Mortgage Rates Today, Feb. 18, 2025: Few Consequential Economic Reports Due This Week
The average 30-year fixed rate mortgage is 6.87% today, an increase of 0.05% since yesterday. The 15-year fixed mortgage rate stands at 5.97%, up by 0.08%. The 30-year FHA mortgage now averages 6.15%, having risen by 0.06. Meanwhile, the 30-year jumbo mortgage rate is 7.17%, reflecting an increase of 0.06%.
The bigger picture
It's a relatively quiet week for economic reports, with the first ones that routinely affect mortgage rates not landing until Friday. And even they rarely change them much or for long. The next one that might make a significant difference is scheduled for the following Friday and concerns inflation.
Of course, any report can move those rates if it contains sufficiently shocking data. But, typically, only a few bring significant changes.
An event due on Wednesday afternoon might generate some movement. That's the publication of the minutes of the last meeting of the Federal Reserve's rate-setting body, the Federal Open Market Committee (FOMC).
We're not expecting fireworks that day. After all, Fed Chair Jerome Powell revealed the Fed's position on general interest rates at a news conference immediately after that meeting and repeated it during Congressional testimony less than a week ago.
Still, it's just possible investors will spot something in the minutes that generates some excitement.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.87% | 6.9% | +0.05% | -0.1% |
| 15-Year Fixed | 5.97% | 6.03% | +0.08% | +-0% |
| 30-Year Fixed FHA | 6.15% | 6.98% | +0.06% | -0.07% |
| 30-Year Fixed VA | 6.31% | 6.46% | +0.08% | +0.04% |
| 30-Year Fixed USDA | 6.18% | 6.32% | -0.02% | -0.1% |
| 30-Year Fixed Jumbo | 7.17% | 7.19% | +0.06% | -0.05% |
| 5/6 Year ARM | 6.78% | 6.82% | +0% | -0.06% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.95% | 6.98% | +0.05% | -0.08% |
| 15-Year Fixed | 5.96% | 6.01% | +0.08% | -0.01% |
| 30-Year Fixed FHA | 6.15% | 6.97% | +0.08% | -0.06% |
| 30-Year Fixed VA | 6.35% | 6.5% | +0.08% | +0.09% |
| 5/6 Year ARM | 6.72% | 6.76% | -0.1% | -0.16% |
Coming up
Although economic reports are the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates.
On Monday, Comerica Bank delivered its weekly summary of what it's expecting this week:
"Financial markets will scrutinize the January FOMC meeting minutes to gauge how long the Fed will hold rates steady. Chair Powell repeatedly noted that the FOMC was in ‘no hurry’ to cut rates again at the FOMC’s January press conference and stated it again in testimony to Congress last week. Homebuilding likely retreated in January, with starts hit hard by adverse weather. Weather probably weighed less on permit issuance. A sharp decline in pending home sales in December probably translated into lower existing home sales in January. S&P Global’s February Flash Manufacturing PMI will probably show the sector’s consolidation in expansionary territory, while the Services PMI is anticipated to show service providers’ rebound from the weather-related slump in January."
Mortgage rates today and tomorrow
We're due the February home builder confidence index and the Empire State manufacturing survey later this morning. But we'd be surprised if either moved mortgage rates far — or even perceptibly. They usually don't.
Tomorrow morning's schedule includes housing starts and building permits, two more reports that rarely cause a stir. Then at 2 p.m. Eastern, we're due those Fed minutes of the last FOMC meeting.
For details of market expectations for all these reports, check out MarketWatch's economic calendar.
