June 3, 2025

After three straight days above 7% last week—the first time that’s happened since February—mortgage rates have finally moved in a more favorable direction. Today marks the first time in weeks that the 30-year fixed rate has dipped back below the 7% threshold, offering a welcome break for buyers and homeowners alike.

The recent rate volatility has been frustrating, with small overall changes on paper (just around 0.125%) sometimes translating into swings of 0.50% or more for individual borrowers, depending on timing.

Today’s improvement was driven by a mix of overnight bond market recovery and fresh economic data. Despite a stronger-than-expected Consumer Confidence Index, signs of a softening labor market gave rates additional room to fall. Many lenders responded by issuing improved pricing throughout the day.

What does this mean for you? If you've been waiting for a better opportunity to lock in your rate, now might be the window you’ve been hoping for.

📞 Let’s talk about your options—whether you’re buying, refinancing, or just want to understand what today’s market means for you. Reach out anytime—I’m here to help.