May 20, 2025

Mortgage Rates Hold Steady - Near Recent Highs

Mortgage rates remained steady on Tuesday, even with some ups and downs in the bond market. If you've been keeping an eye on rates lately, you know they've been on a bit of a rollercoaster. Over the past few weeks, we've seen rates edge back up toward the higher end of the spectrum—hovering near or just under 7%—which is close to the highest levels we've seen since February.

The good news? While we started the week with rates near recent highs, Monday’s market movement brought some relief. Lenders responded by making small positive adjustments, pulling the average rate back down just below the 7% mark. Tuesday opened on a softer note, but because the bond market stayed relatively stable, most lenders kept their rates the same.

It’s important to remember that mortgage rates can shift day to day—and even within the same day—based on what’s happening in the bond market. That means rates can vary depending on when a lender updates their pricing. Some may look better (or worse) than others just based on timing.

The Bigger Picture:
Over the past few weeks, we've seen rates creeping upward overall, largely due to uncertainty around inflation, economic data, and when the Federal Reserve might make its next move. While no one can perfectly predict where rates are headed, this trend highlights the importance of being prepared and ready to lock in a rate when an opportunity arises.

If you're thinking about buying, refinancing, or just want to understand your options in today’s market, let’s connect. I’m here to help you make sense of it all and find the best strategy for your goals.