Mortgage Rates Lowest Since Fed Day
Mortgage rates saw their biggest day-over-day decline of the past several weeks today in response to unexpected news regarding additional tariffs on China. Trump had previously been scheduled to meet with China's President Xi in 2 weeks, but today said there was no reason to do so and that the administration is currently calculating a massive increase in Chinese tariffs. Stocks and bonds immediately responded with the former moving lower and bonds rallying. When bonds rally, interest rates move lower, all else equal. Mortgage lenders use mortgage-backed securities (MBS) to determine what rates they can offer. When bonds move enough during the course of a day, mortgage lenders can reissue higher/lower mortgage rates. Today's big mid-day rally is resulting in fairly widespread improvements. The net effect is an average 30yr fixed rate that is now as low as it's been since the September 17th Fed meeting. For context, today's rates are only a hair lower than October 3rd.
Categories
Recent Posts

Anyone Who Tells You They Know What Happens Next For Rates is Lying

Mortgage Rates Hit Lowest Levels of The Week

Mortgage Rates Improve After Fed Announcement

Realtor.com® Reveals the Top Housing Markets for 2026

Can The Fed Pull Mortgage Rates Off The Ceiling?

Realtor.com®: A 73.2% Spike in Monthly Payments For Moving Traps U.S. Homeowners in Place

Mortgage Rates Start Week Near 3 Month Highs

Realtor.com® Monthly Housing Report: Affordability Reshapes Where Americans Can Buy Homes

Mortgage Rates Could See More Volatility Next Week

Mortgage Rates Back Down Near Recent Lows

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
