Mortgage rates have been in a very narrow range for nearly 3 weeks with the last major move seen on September 17th and 18th following the Fed rate cut. Paradoxically but not surprisingly, rates actually moved higher after the Fed cut the Fed Funds Rate. Contrary to popular belief, Fed comments and policy changes are not the biggest consideration for rates. That honor goes to big ticket economic data like the jobs report.  Case in point, the rate drop in early September after the jobs report was bigger than the jump in rates following the Fed. Moreover, the post-Fed jump was driven mainly by upbeat economic data the following morning. With the government in shutdown mode, we haven't had the same sort of heavy-hitting econ data--a fact that largely contributes to the recently narrow range. There was some non-government data today from the NY Fed that showed a weaker view of the jobs market among consumers, thus helping rates hold in line with yesterday's levels. Before that data, rates were set to open the day slightly higher.

October 7, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% +0.01%   6.13% 7.26% 15 Yr. Fixed 5.82% +0.00%   5.6% 6.59% 30 Yr. Jumbo 6.20% +0.00%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 7, 2025 Mortgage Rates Hold Steady in Tight Range Tue, Oct 7, 2025 3:57PM Mortgage rates have been in a very narrow range for nearly 3 weeks with the last major move seen on September 17th and 18th following the Fed rate cut. Paradoxically but not surprisingly, rates actually moved higher after the Fed cut the Fed Funds Rate. Contrary to popular belief, Fed comments and policy changes are not the biggest consideration for rates. That honor goes to big ticket economic data like the jobs report.  Case in point, the rate drop in early September after the jobs report was bigger than the jump in rates following the Fed. Moreover, the post-Fed jump was driven mainly... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% +0.01 0.00 15 Yr. Fixed 5.82% 0.00 0.00 30 Yr. FHA 6.01% +0.01 0.00 30 Yr. Jumbo 6.20% 0.00 0.00 7/6 SOFR ARM 5.72% +0.01 0.00 30 Yr. VA 6.03% +0.01 0.00 Updates Daily - Last Update: 10/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.27% -0.03 0.00 15 Yr. Fixed 5.52% -0.01 0.00 Updates Weekly - Last Update: 10/16 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.91 +0.18   95.05 99.96 UMBS 30YR 5.5 101.21 +0.11   97.47 101.28 10 YR Treasury 3.979 -0.050   3.932 4.780 Early Gains Erase Overnight Weakness Tue, Oct 7, 2025 11:38AM 10yr yields drifted up toward the 4.20% technical level overnight but buyers showed up at the 8:20am CME open. The initial recovery looks more technical in nature. The subsequent buying brought bonds into positive territory and likely had more to do with the day's only real econ data: the NY Fed Survey of Consumer Expectations. The data showed an uptick in u... (read more) MBS Price Change UMBS 4.5 98.05 +0.29 UMBS 5.0 99.90 +0.17 UMBS 5.5 101.20 +0.11 GNMA 4.5 97.97 +0.22 GNMA 5.0 99.98 +0.04 GNMA 5.5 100.93 +0.00 Pricing as of: 10/16 3:26PM EST US Treasury Yield Change 2 YR Treasury 3.419 -0.081 5 YR Treasury 3.548 -0.072 7 YR Treasury 3.741 -0.064 10 YR Treasury 3.977 -0.052 30 YR Treasury 4.588 -0.038 Pricing as of: 10/16 3:26PM EST Other News Non-QM, Accounting, Settlement, POS, Borrower Assistance Tools; LOs and Compassion; Rates Treading Water Tue, Oct 7, 2025 11:45AM President Trump has recommended that publicly held companies only report earnings every six months instead of every three. Don’t stockholders deserve more timely information to make educated choices, not less? For example, bond market investors who rely on government releases to make decisions seem nearly frozen in their tracks, and the government has only b... (read more) Latest Video HousingWire's Logan Mohtashami: Whenever mortgage rates head near 6%, housi... Don Peebles: Govt. shutdown is bringing instability to housing marketplace New York Federal Reserve: Inflation expectations rise, unemployment concern... We will see services inflating faster than goods, says Jan Kniffen Around the Web CNBC Investors are making up the highest share of homebuyers in 5 years CNBC Consumer outlook sours as inflation expectations rise, New York Fed survey finds NY Fed September Survey: Inflation Expectations Tick Up at Short- and Longer-Term Horizons; Labor Market Expectations Deteriorate Calculated Risk Blog 1st Look at Local Housing Markets in September Calculated Risk Blog Wholesale Used Car Prices Declined Slightly in September; Up 2% Year-over-year CNBC Treasury yields move higher as government shutdown stretches on CNBC Treasury yields little changed as investors look to comments from Fed officials Calculated Risk Blog October ICE Mortgage Monitor: "Home Prices Firm" in September, Up 1.2% Year-over-year Calculated Risk Blog Housing October 6th Weekly Update: Inventory Increased 0.2% Week-over-week The Basis Point TABLE: All U.S. Economic Data Releases Delayed By Shutdown Calculated Risk Blog Asking Rents Mostly Unchanged Year-over-year Eye on Housing Shorter Apartment Construction Time in 2024 Transunion FICO Bypasses Credit Bureaus With New Direct Mortgage Score Program

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