Mortgage Rates Jump Back Toward 7%

Last week was a hopeful one for interest rates. The average top tier 30yr fixed mortgage rate fell more than 0.20% from the previous week's highs as underlying markets took some solace in the absence of major trade war escalations. Despite the solid improvement, the outright level of rates remained elevated compared to most of the past 2 months. In addition, the risk of volatility could not (and cannot) be ruled out when the market is more willing to react to fiscal policy headlines than economic data. The latest headlines involve heavy criticism of Fed Chair Powell on the part of The President. Without any comment on whether that criticism is justified, we can still observe that markets find it unsettling. Traders are expressing that sentiment by pushing stocks lower and rates higher. Mortgage rates jumped fairly sharply today, with the average lender moving up from 6.87% to just under 7.00% for top tier 30yr fixed scenarios.

April 21, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Mortgage Rates Jump Back Toward 7% Last week was a hopeful one for interest rates. The average top tier 30yr fixed mortgage rate fell more than 0.20% from the previous week's highs as underlying markets took some solace in the absence of major trade war escalations. Despite the... (read more) MBS Commentary Drama Returns, But With Mixed Results For Bonds Heading into last week, we expected to be waiting until after the holiday weekend to get a better sense of the prevailing tone in financial markets. If the week of April 7-11 represent tariff-driven panic, last week offered some hope that markets cou... (read more) Rob Chrisman Whole Loan Trading, POS, AI Virtual Assistant Products; Webinars, Events, and Training; Govt Updates In the 1980s I fell off my bike and hurt my knee. I'm telling you this now because we didn't have social media then. It doesn’t take social media to know that the S&P 500 is down 10 percent for the year, but fortunately “the stock market is not t... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.98% +0.11% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.98% +0.11 0.00 15 Yr. Fixed 6.33% +0.05 0.00 30 Yr. FHA 6.45% +0.09 0.00 30 Yr. Jumbo 7.07% +0.04 0.00 7/6 SOFR ARM 6.45% +0.05 0.00 30 Yr. VA 6.46% +0.08 0.00 Updates Daily - Last Update: 4/21 15 Yr. Fixed Rate 6.33% +0.05% Rate Change Points Freddie Mac 30 Yr. Fixed 6.83% +0.21 0.00 15 Yr. Fixed 6.03% +0.21 0.00 Updates Weekly - Last Update: 4/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.81% +0.20 0.62 15 Yr. Fixed 6.11% +0.18 0.62 30 Yr. Jumbo 6.84% +0.19 0.30 Updates Weekly - Last Update: 4/16 MBS / Treasuries UMBS 30YR 5.5 98.55 -0.46 Price / Yield Change MBS UMBS 5.5 98.55 -0.46 UMBS 6.0 100.62 -0.30 GNMA 5.5 98.76 -0.43 GNMA 6.0 100.36 -0.41 Pricing as of: 4/21 5:31PM EST 10 Year US Treasury 4.4072 +0.0813 Price / Yield Change US Treasury 2 YR Treasury 3.760 -0.040 5 YR Treasury 3.970 +0.031 7 YR Treasury 4.184 +0.062 10 YR Treasury 4.407 +0.081 30 YR Treasury 4.897 +0.097 Pricing as of: 4/21 5:31PM EST Latest Video The Fed hasn't been hostile toward the Trump administration, says Fmr. Dall... Chicago Fed Pres. Goolsbee: Economists are unanimous that Fed independence ... WaFd Bank president on weak loan demand, impact of market uncertainty and t... Former Cleveland Fed Pres. Mester: Best thing the Fed can do is to make sur... Around the Web Marketwatch What the 'fire Powell' trade could look like as Trump attacks Fed chair again CNBC Gold surges to a record above $3,400 as Trump threatens Fed independence CNBC 10-year Treasury yield rises as investors weigh Trump's criticism of Powell Calculated Risk Blog California Home Sales Up 4.9% YoY in March; 4th Look at Local Housing Markets CNBC Chicago Fed's Goolsbee says Fed independence is 'critically important' for its inflation fight Politico Bessent urges caution as Trump rages against Powell Calculated Risk Blog Housing April 21st Weekly Update: Inventory up 2.4% Week-over-week, Up 33.4% Year-over-year Eye on Housing Who Influences the Purchasing of Building Products? Calculated Risk Blog Housing Starts Decreased to 1.324 million Annual Rate in March Forex Live US April Philly Fed business index -26.4 vs +2.0 expected CNBC European Central Bank cuts interest rates, warns of ‘deteriorated’ growth outlook on trade tensions CNBC Treasury yields rise as Fed chief warns of impact of U.S. tariffs Forex Live US initial jobless claims 215K vs 225K estimate

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