Mortgage Rates Today, Mar. 10, 2025: Rates Barely Moved on Jobs Report. But Might Wednesday's Inflation Data Do More?
The average 30-year fixed rate mortgage is 6.62% today, an increase of 0.02% since yesterday. The 15-year fixed mortgage rate stands at 5.65%, down by 0.01%. The 30-year FHA mortgage now averages 5.9%, having dropped by 0.03. Meanwhile, the 30-year jumbo mortgage rate is 6.97%, reflecting a decrease of 0.05%.
The bigger picture
Friday's jobs report came in slightly weaker than expected. And that would normally be good for mortgage rates.
Indeed, it was — to start with. But then new announcements about tariffs emerged. And those rates bounced up to roughly where they started the day. They ended the week modestly higher than they started it.
Investors crave certainty. It helps them make informed decisions about where to put their money.
But certainty is in short supply at the moment as policy statements are unveiled — and then reversed or amended within days or sometimes hours. That can leave Wall Street frustrated and cranky.
It's inflation week
The most important economic reports this week concern inflation: Wednesday's consumer price index (CPI) and Thursday's producer price index (PPI).
For mortgage rates, the CPI is typically the more consequential. Sometimes, it rivals the jobs report as the most important economic report of the month.
So, watch out for that. We want it to come in lower than markets are expecting because that's likely to exert a downward force on mortgage rates.
But, with so much else going on at the moment, nobody can be sure how markets will respond to new data.
Government shutdown looms
On Saturday, House Republicans published a funding bill that could avert a government shutdown, according to NPR. If it fails to pass, a shutdown might begin at midnight on Friday. If it succeeds, the federal government should be funded through to September.
The bill is supported by the House leadership and the president. But it's as yet unclear whether enough Republican representatives and senators will vote to pass it.
Government shutdowns tend to be messy and short. But if this one arises at all and then goes on for long, it could create yet another issue for markets to fret about.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.62% | 6.66% | +0.02% | -0.25% |
| 15-Year Fixed | 5.65% | 5.7% | -0.01% | -0.28% |
| 30-Year Fixed FHA | 5.9% | 6.73% | -0.03% | -0.23% |
| 30-Year Fixed VA | 5.96% | 6.11% | -0.06% | -0.3% |
| 30-Year Fixed USDA | 5.96% | 6.1% | -0.12% | -0.26% |
| 30-Year Fixed Jumbo | 6.97% | 6.99% | -0.05% | -0.14% |
| 5/6 Year ARM | 6.65% | 6.7% | -0.12% | -0.04% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.74% | -0.02% | -0.24% |
| 15-Year Fixed | 5.64% | 5.69% | -0.01% | -0.28% |
| 30-Year Fixed FHA | 5.89% | 6.72% | -0.03% | -0.22% |
| 30-Year Fixed VA | 6.01% | 6.16% | -0.05% | -0.3% |
| 5/6 Year ARM | 6.84% | 6.89% | +0% | +0.11% |
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 — as we've seen recently with quickly moving announcements about tariffs.
Mortgage rates today
No reports are scheduled for release today, according to the MarketWatch economic calendar. But two are due tomorrow.Those are the February small business optimism index from the National Federation of Independent Business and January's job openings and labor turnover survey (JOLTS). Neither of those typically moves mortgage rates perceptibly. However, in the current environment, nothing is certain.
As we've mentioned, stand by for Wednesday's CPI.
