August 8, 2025

Mortgage rates have been playing it cool this week, barely budging since Monday. In fact, the day-to-day changes haven’t topped 0.02% — and today’s tiny shift was enough to nudge the average 30-year fixed rate to yet another 10-month low. For top-tier borrowers, many lenders are now quoting rates in the mid-6% range.

Why the Calm?

Economic reports often stir up the bond market (which directly influences mortgage rates), but yesterday’s lineup was pretty uneventful. The only data of note was the weekly jobless claims report — and while the number came in slightly higher than expected, the difference wasn’t big enough to move the needle.

What’s Really Behind the Movement?

Today’s rate levels are more of a ripple effect from yesterday’s late-day bond market gains. Those gains have already been erased in today’s trading, but the shift wasn’t large enough for most lenders to bother updating their rate sheets.

The takeaway: If the bond market stays exactly where it is overnight, we could see tomorrow morning’s rates tick up just slightly — emphasis on slightly.

💬 Thinking about locking in a rate while we’re sitting near 10-month lows? Give me a call!