"It wasn't that long ago that the 10-year Treasury was close to 5%; we stayed at 4.50% for a while and now we are in the 4.15% range, said Joseph Panebianco, CEO of AnnieMac Home Mortgage. Much of that reflected the market reducing its expectations for inflation, but there's also something called the term premium the additional compensation investors demand for long-term risk and that has come down as well."
"On Monday, Mortgage News Daily reported that 30-year conventional fixed rates averaged 6.24%, down 2 basis points (bps) over the past week and 83 bps lower than at the end of 2024. Meanwhile, HousingWire's Mortgage Rates Center, which tracks locked loans across all credit profiles, showed that 30-year conventional loan rates averaged 6.37% on Tuesday, up 3 bps from a week ago."
Mortgage rates started 2025 slightly above 7% and declined into the holiday season near 6.2%. Mortgage News Daily showed 30-year conventional fixed rates averaged 6.24%, down 2 bps week-over-week and 83 bps below end-2024 levels. HousingWire’s Mortgage Rates Center showed 30-year conventional loans averaged 6.37%, while FHA rates were 6.11% and jumbo loans 6.22%. The decline resulted from Federal Reserve rate cuts, lower 10-year Treasury yields and a narrowing spread between Treasuries and 30-year mortgage rates. Term premium and reduced inflation expectations contributed. Mortgage spreads narrowed throughout 2025, boosting refinance activity and market competition.
Read at www.housingwire.com
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