August 26, 2025

A Drifty Week in Mortgage Rates 🌊

If you’ve been watching mortgage rates lately, you might be wondering if they’ve fallen asleep at the wheel. After all, the big moves have been few and far between this summer.

The most memorable shift came right after the August 1st jobs report, when rates slid from 6.75% down to 6.57% over just two days. The runner-up? Last Friday, when Fed Chair Powell’s Jackson Hole speech nudged the index from 6.62% to 6.52%.

This week, however, has been a different story. We’ve hovered right around those levels, with only minor wiggles—yesterday saw a slight uptick, today slipped back down to Friday’s levels. Nothing earth-shattering, just a little back-and-forth.

📉 Big Picture:
This week’s moves fall into the category of “incidental, random drift.” Think of it as a quiet interlude between the events that actually drive mortgage markets in a meaningful way.

👀 What’s Next:
Unless something unexpected hits, the next real catalyst is the jobs report due next Friday. That’s the one to watch. Until then, don’t be surprised if rates keep drifting without much direction.