Mortgage rates are an extension of the financial market, so it's no surprise that they've been more volatile than normal over the past few weeks as markets react to fiscal headlines. The latest dust-up involved Trump's criticism of Fed Chair Powell which resulted in higher rates over the weekend. Now today we've had several comments from Trump (starting yesterday evening) saying that he was never planning to fire Powell and just generally conveying a more measured tone. Financial markets responded favorably. Had this been the only news of the day, rates would have dropped almost an eighth of a point.  We can arrive at this conclusion due to trading levels in the bond market at the time.  But other news pushed back in the other direction. Specifically, a closely watched gauge of business activity showed the sharpest spike in prices in 13 months in the services sector and 29 months for the manufacturing sector. Higher inflation begets higher rates, all other things being equal. Many mortgage lenders were forced to raise rates during the day, ultimately resulting in today's average being only modestly lower than yesterday's.  

April 23, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Pulled in Two Directions, But End Day Lower Mortgage rates are an extension of the financial market, so it's no surprise that they've been more volatile than normal over the past few weeks as markets react to fiscal headlines. The latest dust-up involved Trump's criticism of Fed Chair Powell w... (read more) MBS Commentary What's Up With Today's Big Bond Rally?! Two factors had been contributing more than others to drive bond yields higher as of yesterday.  The broader, ongoing factor is/was the tariff/trade stand-off with China. Whether approached through the lens of inflation or decreased foreign appe... (read more) Rob Chrisman Warehouse, AI Scenario, Processing Tools; Freddie and Fannie Changes; Mr. Cooper's New MBS “I won a million dollars and donated a quarter of it to charity! I now have $999999.75 left.” Money can be funny… or not. In the past, a “flight to quality” or “flight to safety” didn’t involve feckless investors searching for a place to park their m... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.82% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.82% -0.02 0.00 15 Yr. Fixed 6.23% -0.02 0.00 30 Yr. FHA 6.22% -0.03 0.00 30 Yr. Jumbo 6.98% -0.02 0.00 7/6 SOFR ARM 6.40% -0.02 0.00 30 Yr. VA 6.24% -0.03 0.00 Updates Daily - Last Update: 4/28 15 Yr. Fixed Rate 6.23% -0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.81% -0.02 0.00 15 Yr. Fixed 5.94% -0.09 0.00 Updates Weekly - Last Update: 4/24 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.90% +0.09 0.86 15 Yr. Fixed 6.20% +0.09 0.58 30 Yr. Jumbo 6.90% +0.06 0.45 Updates Weekly - Last Update: 4/23 MBS / Treasuries UMBS 30YR 5.5 99.62 +0.06 Price / Yield Change MBS UMBS 5.5 99.62 +0.06 UMBS 6.0 101.34 +0.01 GNMA 5.5 99.95 +0.11 GNMA 6.0 101.09 +0.02 Pricing as of: 4/29 1:02AM EST 10 Year US Treasury 4.2073 -0.0290 Price / Yield Change US Treasury 2 YR Treasury 3.693 -0.043 5 YR Treasury 3.804 -0.051 7 YR Treasury 4.002 -0.040 10 YR Treasury 4.207 -0.029 30 YR Treasury 4.685 -0.023 Pricing as of: 4/29 1:02AM EST Latest Video Preliminary April PMI surprises to upside New home sales 724K vs. 685K estimated Richmond Fed President Tom Barkin: A lot of reasons to be worried about con... Uncertainty around trade policy 'pervasive' across reports, Fed Beige Book ... Around the Web CNBC Consumer spending is up big in early April as people buy in anticipation of tariffs CNBC Business already are trying to pass tariff cost onto customers, Fed report says CNBC Weekly mortgage demand plunges nearly 13%, as interest rates hit 2-month high Forex Live US new home sales for March 0.724M vs 0.680M estimate Calculated Risk Blog Fed's Beige Book: "Economic outlook worsened considerably" Forex Live S&P global manufacturing PMI for April 50.7 versus 49.1 estimate. CNBC 10-year treasury yield dips after Trump backtracks plans to axe Fed chief Investing.com Fed’s Goolsbee sees tech-driven boom in US economy Investing Trump said ’doing fine’ with China, has no plans to fire Powell CNBC Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical CNBC What student loan borrowers need to know about 'involuntary collections' CNBC Watch live: Treasury chief Scott Bessent delivers a speech about the global financial system CNBC Bessent says he expects 'de-escalation' in U.S.-China tariff fight in the 'very near future'

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