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Rates Just Hit a 10-Month Low!

Mortgage rates just hit their lowest levels since October 2024 following a big shift in the bond market. Here’s why it matters for homebuyers and homeowners.
Aug 05, 2025

If you're thinking about buying a home or refinancing, here's some good news: mortgage rates just fell to their lowest point since October 2024. That’s right—rates are down, and it’s because of a big move in the bond market driven by a key economic report.

So, what happened?
Every month, experts look closely at the jobs report—a snapshot of how the U.S. economy is doing in terms of employment. This report has a big impact on the bond market, and bonds are one of the main drivers of mortgage rates.

On Friday, the jobs report showed data that made investors feel more confident about buying bonds. When more people buy bonds, their prices go up and yields (which influence mortgage rates) go down. That’s exactly what happened.

Why it matters for you:
The market shift was so significant, some lenders didn’t even finish adjusting their rates before the weekend. But as of Monday, rates continued to dip because the bond market stayed stable—and even improved slightly.

As a result, mortgage lenders are now offering the lowest rates we’ve seen since October 2024.

What Should You Do?

  • Buyers: This rate drop could mean lower monthly payments and better loan terms. If you were waiting for the right time, this could be your chance to lock in a deal.

  • Homeowners: If you’ve been considering refinancing, this is a window worth exploring—especially if your current rate is higher than what’s now available.

The Takeaway

This kind of opportunity doesn’t always stick around. Rates can move quickly depending on economic news, investor sentiment, and global events. The best move? Talk to a mortgage advisor and explore your options now—before the market shifts again.

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Source: Mortgage News Daily

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