{"id":3925,"date":"2026-06-04T20:03:54","date_gmt":"2026-06-04T20:03:54","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/mortgage-rates-lower-today-but-in-a-narrow-range\/"},"modified":"2026-06-04T20:03:54","modified_gmt":"2026-06-04T20:03:54","slug":"mortgage-rates-lower-today-but-in-a-narrow-range","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/mortgage-rates-lower-today-but-in-a-narrow-range\/","title":{"rendered":"Mortgage Rates Lower Today, But in a Narrow Range"},"content":{"rendered":"<p> <\/p>\n<div>\n<p>After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then, they&#8217;ve been moving back and forth in a very narrow range. Today&#8217;s movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%.<\/p>\n<p>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&#8217;s because we are also measuring the underlying costs associated with any given rate and extrapolating the relative impact on interest rates.<\/p>\n<p>To use a crude example, let&#8217;s consider two different hypothetical rate quote options yesterday and today.<\/p>\n<ul>&#13;<\/p>\n<li>Yesterday&#13;\n<ul>&#13;<\/p>\n<li>6.625% at a cost of $12 upfront<\/li>\n<p>&#13;<\/p>\n<li>6.50% at a cost of $24 upfront<\/li>\n<p>&#13;\n<\/ul>\n<p>&#13;\n<\/li>\n<p>&#13;<\/p>\n<li>Today&#13;\n<ul>&#13;<\/p>\n<li>6.625% at a cost of $9 upfront<\/li>\n<p>&#13;<\/p>\n<li>6.50% at a cost of $21 upfront<\/li>\n<p>&#13;\n<\/ul>\n<p>&#13;\n<\/li>\n<p>&#13;\n<\/ul>\n<p>Now pretend you only have $15 to spend for closing costs. You still can&#8217;t afford to buy your rate down to 6.5%, and you&#8217;ll still be choosing the 6.625% quote. But while the interest rate portion of your quote didn&#8217;t change, the actual interest cost improved.\u00a0 Our index captures and expresses these improvements in a single number.\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After hitting long-term highs on May 19th, mortgage rates dropped somewhat quickly by May 26th. Ever since then, they&#8217;ve been moving back and forth in a very narrow range. Today&#8217;s movement happened to be the good kind with the average lender cutting top-tier 30yr fixed rates by 0.03%. As always, keep in mind that mortgages [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[153,1657,1092,154,874],"class_list":["post-3925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-mortgage","tag-narrow","tag-range","tag-rates","tag-today"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/3925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=3925"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/3925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/3926"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=3925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=3925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=3925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}