Unlike Monday, which saw a fairly brisk move toward higher rates, Tuesday barely budged. Additionally, the budging occurred in a friendly direction with the average lender offering rates that were just a hair lower than yesterday's. Starting tomorrow morning, this week's potential volatility will be higher. Each day brings several economic reports with the power to push rates higher or lower. Wednesday/tomorrow is probably chief among these due to the ADP employment report and a closely watched service sector report from ISM.
Tuesday, December 2, 2025 8:33:00 PM UTC
Mortgage rates are based on bonds and the bond market is prone to erratic behavior on major holiday weeks. One of the more common patterns is for the holiday week to see a noticeable departure from a prevailing trend only to return to that trend in the following week. That's exactly what we're seeing on the first day of the new week. The prevailing trend saw rates hold a narrow, sideways range with the average top tier 30yr fixed rate in the 6.3s. Last week saw that average drop to 6.20% and now today, we're right back up to 6.31%. [thirtyyearmortgagerates] In the coming days, economic data should have a bigger impact on rates than the sort serendipity at work today.
Monday, December 1, 2025 8:34:00 PM UTC
As is most often the case, the Friday after Thanksgiving added nothing interesting to mortgage rate momentum. The average lender's top tier 30yr fixed rate is exactly where it was on Wednesday. The underlying bond market closes early today, but will be fully open next week. At that point, we're likely to see some volatility return for rates, depending on the results of economic reports.
Friday, November 28, 2025 5:55:00 PM UTC
Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a hair, but apart from yesterday, these are the lowest levels in a month and very close to the lowest levels in more than 3 years. Bond markets and mortgage lenders will be closed tomorrow for Thanksgiving. While Friday is technically open, 9 times out of 10, it may as well not be. In other words, the Friday after Thanksgiving rarely sees any meaningful movement in mortgage rates or the underlying bond market.
Wednesday, November 26, 2025 7:52:00 PM UTC
Mortgage rates moved nicely lower on Tuesday with the average lender very close to the 2025 lows seen in late October. These levels are effectively right in line with the lowest since late 2022. If today's drop seems abrupt, that's because it is. In fact, it's a bigger drop than the underlying bond market justifies. There's a reason for this and we covered it in detail back in September: Why Rates Seem to Drop More Quickly as They Approach Certain Thresholds. Rather than credit any of the recent underlying events, the improvement in rates/bonds has more to do with idiosyncratic trading conditions that are often seen on major holiday weeks. That said, some of today's data and events contributed. These include another week reading in weekly employment numbers from ADP as well as a reaction to rumors that rate-friendly Kevin Hassett will be the next Fed Chair. [thirtyyearmortgagerates]
Tuesday, November 25, 2025 9:04:00 PM UTC
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