Mortgage rates were perfectly unchanged today, on average.  With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years.  Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to the shutdown, bonds have taken cues from other developments like the new tariffs announced 2 weeks ago and the regional bank drama seen last week.  These market movers would normally be operating in the background--perhaps not even meriting discussion--but the dearth of data and the generally narrow range makes their effects more noticeable.  In thinking about the relatively uneventful return to long-term lows, it's good to remember that momentum comes and goes when it comes to rates and the bond market that drives them.  Sometimes, a string of good luck is the only required catalyst for a token pull-back.  Bonds are showing some fatigue as 10yr yields have pushed just under 4.0%. It may take some more convincing in the form of data or other events to motivate additional improvement. 

October 22, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.05%   6.13% 7.26% 15 Yr. Fixed 5.81% -0.04%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Oct 22, 2025 Mortgage Rates Steady At Long Term Lows Wed, Oct 22, 2025 3:14PM Mortgage rates were perfectly unchanged today, on average.  With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years.  Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to the shutdown, bonds have taken cues from other developments like the new tariffs announced 2 weeks ago and the regional bank drama seen last week.  These market movers would normally be operating in the background--perhaps not even meriting discussion--but the dearth of data an... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.05 0.00 15 Yr. Fixed 5.81% -0.04 0.00 30 Yr. FHA 6.01% -0.04 0.00 30 Yr. Jumbo 6.30% 0.00 0.00 7/6 SOFR ARM 5.89% -0.06 0.00 30 Yr. VA 6.03% -0.04 0.00 Updates Daily - Last Update: 10/31 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.30% -0.07 0.58 15 Yr. Fixed 5.67% -0.07 0.61 30 Yr. Jumbo 6.38% -0.01 0.34 Updates Weekly - Last Update: 10/29 UMBS 30YR 5.0 99.56 +0.01   95.05 100.11 UMBS 30YR 5.5 101.06 -0.01   97.47 101.40 10 YR Treasury 4.076 -0.020   3.932 4.780 Modest Early Weakness. Was it About Time? Wed, Oct 22, 2025 11:17AM Think back to October 17th. MBS opened slightly weaker and ended the day down about an eighth of a point.  That was the last time we had a weaker start, and there are some parallels to today. In both cases, the weakness was modest. In both cases, the previous session closed at the best levels in at least a month.  In fact, yesterday's 5.0 MBS price... (read more) MBS Price Change UMBS 4.5 97.56 +0.06 UMBS 5.0 99.56 +0.01 UMBS 5.5 101.06 -0.01 GNMA 4.5 97.65 +0.04 GNMA 5.0 99.73 +0.05 GNMA 5.5 100.82 -0.03 Pricing as of: 11/1 4:06AM EST US Treasury Yield Change 2 YR Treasury 3.574 -0.034 5 YR Treasury 3.683 -0.035 7 YR Treasury 3.873 -0.025 10 YR Treasury 4.076 -0.020 30 YR Treasury 4.653 -0.004 Pricing as of: 11/1 4:06AM EST Other News Automated QC, Sec. Marketing, Compliance, Processing Tools; AI Considerations for Lenders Wed, Oct 22, 2025 11:54AM “Why did the Tibetan Monks go to Las Vegas? They are very good at games of chants.” One topic among hallway chats with lenders here at the MBA Annual is keeping costs down. After all, everyone is selling, or putting their loans into portfolios, at roughly the same price, so whether a lender is doing $10 million a month or $1 billion a month, cost and efficie... (read more) Latest Video Taylor Morrison CEO: Solving home affordability requires collaboration amon... Former Dallas Fed President: The bar for further cuts after October is high... Commercial Real Estate is getting on the blockchain WaFd CEO: Market is overreacting and regional banks are strong Around the Web CNBC Western Alliance CEO says alleged loan fraud is 'incredibly frustrating' but isolated issue CNBC Government shutdown becomes 2nd longest in U.S. history CNBC Refinance demand is 81% higher than it was a year ago, thanks to falling mortgage rates Eye on Housing How COVID-19 Reshaped the U.S. Labor Market and Housing Demand Realtor.com Low Mortgage Rates Are Keeping Homeowners in Golden Handcuffs Calculated Risk Blog Lawler: Early Read on September Existing Home Sales, and Update on MBS Yields and Spreads CNBC Treasury yields hold steady as investors look ahead to inflation print CNBC Treasury yields lower as investors continue to monitor government shutdown Calculated Risk Blog California Home Sales Up 6.6% Year-over-year SAAR in September Eye on Housing Median Age of Construction Labor Force Holds at 42 Calculated Risk Blog NAHB: Builder Confidence Increased in October, Negative territory for 18 consecutive months Federal Reserve Bank of Philadelphia October 2025 Nonmanufacturing Business Outlook Survey Calculated Risk Blog LA Ports: Imports and Exports Down YoY in September

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