Mortgage rates have been steadily decreasing over the past week, with some fluctuations. The trend shows promise as rates move lower without significant rebounds. However, this week began on a shaky note, with rates rising on Monday before stabilizing.
Today was the best day of the week for the bond market, which saw gains primarily in overseas trading overnight. Although not fully reflected in the US market, these improvements suggest further declines may be possible.
The 30-year fixed-rate mortgage average dropped by 0.04% from yesterday. Given the timing of the bond market’s gains, lenders might see slightly lower rates if no changes occur overnight, potentially setting them up for another decline tomorrow. Note that this is not a prediction, but rather an observation on the current trend and its implications.
Source: https://www.mortgagenewsdaily.com/markets/mortgage-rates-04242025