Mortgage Rate Update: Rates See Their First Positive Week in a Month

What Did Rates Do This Week?

Mortgage rates saw their first positive week in a month, with several major loan programs improving. Conventional rates dropped, while FHA and VA rates also moved lower. Jumbo rates held steady, and adjustable-rate mortgage pricing was mixed.
Markets focused on the latest manufacturing data, the Federal Reserve’s meeting minutes, and consumer sentiment. These reports help investors gauge inflation, the strength of the economy, and how consumers feel about their finances. Together, they provided new information for the bond market and helped mortgage rates find some relief after several challenging weeks.

What to Look Forward to Next Week

Next week, investors will continue watching economic reports and Federal Reserve commentary for clues about the direction of mortgage rates. Signs of cooling inflation or a softer labor market could support further improvement, while stronger economic data may keep rates under pressure.

Lock or Float Bias

Current Lock/Float Bias: Neutral to Slight Float

After the first positive week in a month, borrowers may be encouraged by the recent improvement. Those closing within the next 15–30 days may still want to consider locking to protect against unexpected movement. Buyers with longer timelines may choose to float and watch for additional improvement, while keeping in mind that rates can change quickly.