Today’s Mortgage Rates Hold at 10-Month Lows (But Don’t Expect a Freefall)

Mortgage rates continue to hover near their lowest levels since October 2024, offering some welcome relief for buyers and homeowners alike. Despite minor fluctuations in the bond market today, lenders held firm, leaving most rate offerings unchanged or slightly improved.

Here’s where today’s average rates landed:

Markets Calm, Rates Stable

Even with a few moments of potential volatility in the bond market today, there wasn’t enough movement to trigger mid-day pricing changes from most mortgage lenders. Essentially, the market activity stayed just calm enough for lenders to maintain or slightly improve their rates from the morning.

This follows a micro-move yesterday, where the average 30-year fixed rate ticked up by just 0.01% a change that was reversed today with a 0.02% dip.

🧭 What’s Holding Rates Back From Falling Further?

While rates have clearly improved, they’re still a bit above key historical milestones. Case in point:

• Today’s 30-year fixed avg: 6.55%
• Early September 2024 avg: 6.11%

To reach those earlier lows, the market would need to digest a series of weaker economic reports, especially on jobs and inflation. Without that kind of sustained soft data, it’s unlikely mortgage rates will make much additional progress in the short term.

🏠 Bottom Line

Rates are stable, low (relatively speaking), and holding firm at their best levels in 10 months. But without more economic weakness or a surprise drop in inflation, this may be as low as they go for now.

If you’re in the market, it could be a smart time to explore your options while rates remain favorable but be mindful: this calm may not last forever. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.