Mortgage Market Update for the week ending April 11, 2025. A wild week for mortgage rates and not a very good one for mortgage markets as rates skyrocketed on tariff news. We moved up a whopping 75 bps, putting us at 6.75% for most 30 year fixed conventional scenarios.

It was a very good week for mortgage markets as rates reached a 5-month low. We moved down about .25% to 6.125% for most 30-year fixed conventional scenarios. Tariff news was in the spotlight this week, trumping all other economic news. President Trump’s Wednesday afternoon press conference announcing increased tariffs for most countries along with China’s retaliation with reciprocal tariffs pushed treasury yields and mortgage rates lower.

It was an up and down week for mortgage markets. Even after a nice Friday rally, we will end the week just up slightly, right at 6.375% for most 30-year fixed Conventional scenarios. The week started with a stock market rally on Monday pushing rates up and after a few quiet days midweek, mortgage markets rallied back today. This morning's rally came on the heels of the PCE report. The latest inflation data was a bit stronger than expected, with Core PCE at 2.8%. Even though