July 2, 2025

Mortgage rates have remained steady at 6.67%, the lowest levels since early April. Overall we are seeing about 10 bps to 15 bps change from last week at this same time. Recent economic data, including mixed job reports and manufacturing PMIs, have contributed to this stability. The JOLTS data showed a leveling off of job openings, and bond traders responded by buying the dip, helping to stabilize the market.

Looking ahead, all eyes are on the jobs report and CPI data coming this week. A weaker-than-expected jobs report could push rates even lower, while stronger data may lead to a slight uptick. There’s also growing speculation that the Federal Reserve may lower rates in July, which could further influence mortgage rates. As the economy evolves, the bond market’s response will be key in shaping the future of mortgage rates.

Ready to make your move? Let’s chat about how today’s rates can work for you! 📲