Why Mortgage Rates Feel “Stuck” Going Into the Weekend

Heading into the weekend, mortgage rates are holding steady — but not because the market is calm. In fact, there’s a lot happening under the surface.

This Week in the Market

• Treasuries: The 10-Year Treasury yield bounced between 4.25–4.35% after Wednesday’s bond auction. That range is keeping mortgage rates pinned in the high-6s.

• Fed Outlook: Markets are still pricing in a September rate cut, but don’t expect mortgage rates to tumble just because of that. Cuts help short-term credit first — mortgage rates need to see inflation come down further to really move.

• Inflation Data: CPI is still stuck around 2.7%. It’s lower than last year, but not enough to push the Fed’s hand toward aggressive easing.

Why It Matters

This is what we call a range-bound market. Mortgage rates aren’t likely to swing wildly up or down without a surprise in inflation or jobs data. Instead, they’ll drift within a tight band — giving borrowers occasional short-lived dips to take advantage of.

Client Strategy Right Now

• Be paperwork ready. Rate windows don’t wait. Having disclosures signed and docs in early means you can lock fast.

• Use strike rates. Knowing your target ahead of time keeps emotions out of the decision and allows you to move quickly.

• Leverage flexible programs. DSCR, bank statement loans, lender-paid buydowns, and down payment assistance — all still closing in 15 days or less — can give you an edge when rates feel immovable.

Bottom Line

Rates feel stuck, but that’s not the same as frozen. The market is coiled, waiting for the next economic spark. The smartest move? Be ready before the spark comes.