{"id":685502,"date":"2026-06-05T07:23:22","date_gmt":"2026-06-05T07:23:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/685502\/"},"modified":"2026-06-05T07:23:22","modified_gmt":"2026-06-05T07:23:22","slug":"mortgage-rates-lower-today-but-in-a-narrow-range","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/685502\/","title":{"rendered":"Mortgage Rates Lower Today, But in a Narrow Range"},"content":{"rendered":"

After hitting long-term highs on May 19th, mortgage rates<\/a> dropped somewhat quickly by May 26th. Ever since then, they’ve been moving back and forth in a very narrow range. Today’s movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%.<\/p>\n

As always, keep in mind that mortgages are most commonly offered in 0.125% increments. When our daily rate index changes by only 0.03%, it’s because we are also measuring the underlying costs associated with any given rate and extrapolating the relative impact on interest rates<\/a>.<\/p>\n

To use a crude example, let’s consider two different hypothetical rate quote options yesterday and today.<\/p>\n


\nYesterday
\n
\n6.625% at a cost of $12 upfront
\n6.50% at a cost of $24 upfront
\n
\n
\nToday
\n
\n6.625% at a cost of $9 upfront
\n6.50% at a cost of $21 upfront
\n
\n <\/p>\n

Now pretend you only have $15 to spend for closing costs. You still can’t afford to buy your rate down to 6.5%, and you’ll still be choosing the 6.625% quote. But while the interest rate portion of your quote didn’t change, the actual interest cost improved.\u00a0 Our index captures and expresses these improvements in a single number.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then,…\n","protected":false},"author":2,"featured_media":685503,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-685502","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/685502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=685502"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/685502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/685503"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=685502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=685502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=685502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}