April 25, 2025

Bond Bounce & Rate Relief: What’s Behind the Move?

Mortgage rates are slowly recovering after spiking two weeks ago. Last week brought a clear win with steady improvement, and while this week started off bumpy, today marked the best bond market performance so far.

Rates dipped again, with the average top-tier 30-year fixed dropping about 0.04% from yesterday. If markets stay steady overnight, lenders could inch even lower tomorrow — but that’s not a guarantee.

Why the bond rally? Depends who you ask. Some credit calmer tariff vibes, others are positioning for next week’s big economic data. Treasury auctions are behind us, and a comment from Fed’s Hammack hinted at a possible move in June. Still, no single reason explains the gains — maybe it’s just a classic “no news is good news” moment.

For now, bond markets are consolidating and waiting for clearer direction on policy and economic momentum. Stay tuned — things could shift quickly.

Thinking about a move or refinance? Let’s run the numbers while rates are cooperating.