Today’s Mortgage Rates: Let’s crack the codeย ๐ข for Metro Detroit and take control of your home financing!ย ๐ธDon’t just follow the market ~ Master learning how to predict mortgage rates!ย ๐

๐ Today’s Mortgage Rates ~
ย Track the Why, not the what: September 10, 2025ย
ย Mortgage rates aren’t just aboutย the daily numberย that pops up.ย It’s more about theย WHY that number moves. ๐๐กUnderstanding the economic forces, Fed policy shifts, and bond market trends behind rate changes helps you make smarter, more confident decisions.ย Each week, I break down the “WHY” behind the moves. It goes far beyond the headlines, revealing the deeper story of what drivesย rates and affects your monthly payment. ๐ง ๐ฒ
This week, we’ll decode the latest market twists. I’ll cover the Fed’s next move, and whether Wall Street’s expectations are realistic โ all inside “Cracking the Mortgage Rate Code: Know the Why ๐ก and Save.” ย I’ll lay out all the graphs, trends, and what’s driving mortgage rates today and into next week.ย ๐ I’m watching the trends, so you don’t have to! ๐
๐จย Morning Predictions ~ย All ๐ Are on the Bond Market ~ย 9-10-2025ย
ย ย Good Morning, Metro Detroit! ๐ฉ๏ธ I’m tracking early movements ๐ through 1:00 pm, as this is critical when lenders typically finalize rate sheet revisions. That’s how you know when to lock your rate on the dip ๐, not the spike.ย ๐
๐จ Your Mortgage Rate: Why!ย ย
๐ Bond Yield increased ~ Here’s Your Why:
๐จ I’m shocked this is the second month in a row the PPI inflation report didn’t send the bond market into CHAOS! The 10-year Treasury has decreased slightly as the yield is trying to find a balance between job reports and Inflation reports. The job reports caused the yield to plummet last week. This week will be dealing with inflation reports, which can cause chaos in the bond market. This is the second straight month of labor-market weakness. Here are the key takeaways from the jobs report. This morning, the Department of Labor revised its job growth, down by 911,000 through March, signaling the economy is on a shakier footing than realized. Fear is in the air, causing the yield to increase today. ๐ฎ
The Fed desk, starting in August, has been compressing the MBS gap. The MBS gap started at 2.400% on 8-1 and as of yesterday, it is down to 2.262%, that’s a drop of .138%. Between the yield plummeting and the MBS gap compressions, mortgage rates fell from 6.63% to 6.28% as of yesterday. That’s a .35% drop in 5 weeks. ๐๐๐ฅณ
Recession is front and center again. This time, the concern is over the 10-year Treasury yield plummeting 0.216% since September 2.
๐ฅณ The good news for buyers with a secured job is that mortgage rates have declined from 6.53% to 6.29%. That’s a .25% drop in 5 days.
โ ๏ธ The Economy’s Effect on Mortgage Rates:
๐งจ 1. Tariffs Are Driving Prices Up
- The average effective tariff rate has surged to 17.4%, the highest since 1935.
- Tariffs on metals, electronics, and imported components are inflating input costs across sectors.
- Manufacturers report 24% price hikes just to offset tariff costsโno margin gain, just survival.
- Consumer passthrough is real: 61โ80% of tariff costs are hitting household budgets.
- Trump’s tariffs are coming home to Roost: 4 ripple effects you cannot ignore.
โMade in the USA has become even more difficult due to tariffs on many components.โ โ ISM survey respondent
๐ญ 2. Manufacturing Is Contracting
- The ISM Manufacturing PMI has been below 50 for six straight months, signaling contraction.
- August’s PMI was 48.7, still in shrink mode despite a slight uptick in new orders.
- Firms are freezing hiring and capital spending due to tariff-driven uncertainty.
- Manufacturing jobs are down 78,000 year-to-date, with 12,000 lost in August alone.
โWe are losing higher-skilled and higher-paying roles. With no stability in trade and economics, hiring is frozen.โ
๐ทโโ๏ธ 3. The Labor Market Is Wobbling
- August added just 22,000 jobs, far below forecasts.
- Unemployment ticked up to 4.3%, and long-term joblessness rose by 385,000 over the year. June’s job data was revised downโ13,000 jobs lost, not gained.
- Employers are hiring 29,000/month on average (JuneโAugust), down from 168,000/month in 2024.
๐ 4. Inflation Watch:
๐๏ธ 5. Wall Street:
๐ข 6. Inflation Reports This week:
๐ PPI Cools Off, but the Bond Market Shrugs: What It Means for Mortgage Rates
๐ Quick Recap of Todayโs Data
Producer Price Index (PPI):ย Year-over-Year (YoY): Down 0.05% ~ย Month-over-Month (MoM): From +0.7% to -0.1% ~ย Core PPI (excludes food & energy):YoY: Down 0.8% ~ย MoM: From +0.08% to -0.1%.ย
Todayโs PPI report shows cooling producer costs, which should be a positive sign for inflation trends. But despite the soft numbers, Wall Street and the bond market didnโt budge. The 10-year yield is flat, mortgage-backed securities (MBS) pricing is steady, and mortgage rates arenโt moving.
๐ฆ What This Means for the Economy
Falling PPI suggests that inflation pressure is easing at the production level. If this trend continues, it gives the Federal Reserve more breathing room to consider cuts in the months ahead. However, the bond market is clearly taking a โwait-and-seeโ approach, especially with next weekโs Fed meeting on the calendar.
This lack of reaction tells us:
- Investors already priced in cooling inflation.
- Markets are focused on CPI data, jobs numbers, and Fed guidance rather than a single PPI print.
- Bond traders are cautious about making moves before Powell speaks next week.
๐ก Mortgage Rate Outlook
For now, mortgage rates are holding steady. Hereโs what to watch:
- If the Fed signals a rate cut path next week, we could see yields and mortgage rates drift lower. If Powell doubles down on a โhigher for longerโ message, rates may stay locked where they are for now.
- The MBS gap remains tight, which limits lender flexibility to drop rates even when yields fall slightly.
Bottom line: Todayโs PPI report is good news for inflation, but not enough to shake markets or give homebuyers immediate relief.
๐ Next Week: Big Decisions Ahead
The Federal Reserve meets next week, and this is the moment that will set the tone for fall rates. If youโre in the market to buy or refinance, this is a key time to watch the bond market and lock timing closely.
Knowledge unlocks your next step. Stay tuned for next weekโs Fed coverage and real-time updates on what it means for your home financing strategy.
Why This Matters for Buyers and Sellers
๐ก For Buyers:
Today’s drop to 6.29% โ with rates likely sliding a bit lower today โ means real savings if you’re ready to act. However, remember that this dip is driven byย Fed Desk compression and shaky market confidence,ย rather than genuine stability. It appears that mortgage rates reached the White House’s goal of 6.5% by the end of August.ย
๐ฏ For Sellers:
The stable yield, paired with MBS gap compression, is giving buyers some breathing room. Mortgage rates fell to 6.29% todayย and are expected to remain at this level today, even if there’s a slight gap correction. That means more buyers can afford to stay in the game, keeping demand alive and supporting stronger offers if you’re listing now.
๐ก Bottom Line:
Mortgage rates don’t just “happen.” They follow the bond market. When yields climb, it’s a signal of inflation fears, heavy government borrowing, or weaker global demandโknowingย that “WHY” helps you make confident, fact-driven decisions โ instead of guessing when it comes to important decisions like a mortgage.
Understanding how these reports impact the market gives you the power to act before rates change. The goal is protecting your bottom line, whether you’re buying or selling. ย Now more than ever, it will be essential to follow the trends.ย Allย the latest economicย graphs are in the blog post, “Crack the Mortgage Rate Code and Save.”
Yield Update at 10:00 ๐ย for 9-10-2025

ย Theย 10-Year Treasury Yield is your base.ย Will there be a spike or Dip at 10:30? ๐ฅ
The 10-year Treasury yield is where it all begins. The yield number sets the tone for mortgage rates. I’ll follow the yield to determine Today’s prediction.ย Today’s yield rateย decreased slightly and is stable.ย ย
๐งฉ This pattern signals one thing:
The market is pausing โ neither rallying nor panicking. We’re in a holding pattern where MBS pricing, yields, and lender strategy are all balancing delicately.
๐This is where the Formula Starts โคต๏ธ
Scroll to see the 5-day Yield Rates
Two Mortgage Rate Day?ย
๐คฏ Remember: Lenders may adjust mortgage rates up or down if the 10-year yield shifts by ยฑ0.020% until 1:00 PM. I’m watching ๐ to see if this spike holds or if we get a late-day correction lower.
Mortgage-backed Securities (MBS) Prices ~ย The Unsung Hero ๐ฆธ or the Villain๐ฆนย
The second piece in determining mortgage rates is the all-important Mortgage-Backed Securities. Historically, the 50-year average between the 10-year Treasury yield and MBS rates has hovered around 1.72%.ย Currently, theย averageย range has plummeted to under 2.300% from 2.528% on January 3rd, 2025.
๐ Today’sย MBSย price Gap: will they be our Hero ๐ฆธ or Villain ๐ฆน
Mortgage Daily Newsย reports that MBS pricing is moderately strongerย and couldย impact mortgage rates lower today.ย Theย Fed Security desk has been workingย behind the scenes all month, seemingly disregarding the pricing rules. The Fed desk isย compressingย the gap to keep mortgage rates lower after the yield spikes. MBS pricing is not following the standard rules due to market volatility. Today, the correction may be minimal.ย
- ๐ฆธย Hero Mode: When Mortgage-Backed Securities (MBS) prices go up, it means investors are willing to accept lower yields in exchange for the stability of mortgage payments. That puts downward pressure on mortgage rates.โ Result: Lenders can offer lower interest rates because the value of the mortgage bond (the MBS) is stronger. It’s a win for buyers, refinancers, and anyone seeking to secure a better deal.
- ๐ฆนVillain Mode:
Falling MBS prices mean investors demand higher yields to take on mortgage risk, creatingย upward pressure on mortgage rates.โย Result: Lenders increase rates to keep spreads profitable or temporarily pause quoting. Additionally, when the yield skyrockets, ๐ the Fed Security Desk or Freddie and Fannie ๐ฆ have been using the gap to correct and stabilize volatility in the Mortgage market. Buyers lose buying power, and the urgency to lock on a dip becomes critical.ย
๐Always follow theย WHY!๐
Early Mortgage Rate Prediction graph Below โคต๏ธ
๐ Sellers take note: These shifts affect your buyers’ loan approvals, payments, and urgency. Stay informed to time your listing right. ๐กMarkets move fast, so being ahead of the curve can help you protect your equity and plan smarter. ๐ผ๐ย
๐กย Pro Tip: If you plan toย make an offer on a house in Metro Detroit, it’s essential to understand how these economic shocks impact the mortgage market. Understanding trendsย andย how to predict them will give you aย serious edge when negotiating. Have aย planย in placeย to know before you lock inย your rate.ย ๐ฎ Stay tuned for this afternoon’s update at the bottom of the article: What My Crystal Ball Is Telling Me About Today’s Mortgage Rates.โคต๏ธ
Important ๐ข Know Your Lender’s ๐ฆ Policy on Rate Revisions ~ Morning vs Afternoonย
โ ๏ธ Before locking your rate, alwaysย understand how your Lender determines their daily mortgage rate. Remember, yield and MBS prices fluctuate throughout the day, so knowing theย Lender’s timelineย before locking your rate isย crucial to save. ๐
๐ย Mortgage Daily Newsย article on the importance ofย understandingย why lendersย adjustย mortgage rates midday. ๐ฅKnow your Lender’s ๐ฆ protocol for rate changes. ๐๐กย Do you offerย rate revisionsย if the bond market shiftsย lower in the afternoon? โKnow theย WHYย andย save.๐ต๐ฒ
๐ฎ Todayโs Mortgage Rate Prediction:ย 9-10-2025ย ~ Mortgage rates will be lower today ๐ฅณ๐ย
This blog post will update the latest bond yield changes up to Noon. Mortgage Daily News reports the first mortgage rate base between 12:30 and 1:00, and Lender revision updates by 3:30. ๐ฅThe examples below show why you need to knowย how your Lenderย will handleย mortgage rate shiftsย andย what timeย they determine their rates and revisions. ๐
๐ท Scenario #1 Predictions: first yield report @ Noon ๐ย
The yield decreased by only 0.006% to 4.059%.ย Next, we’ll examine the critical role the Mortgage-Backed Securities Gapย plays today.ย (+ or โ .01%) Will it be theย Heroย ๐ฆธ or theย Villain?ย
MBS Hero Scenario:ย If lendersย decreaseย the gap byย 0.010%, plus the Yield at 4.059%,ย mortgage rates will be 6.28%.ย ย
๐ฆ Neutral:ย If the MBS stays the same as yesterday at 2.227%, plusย today’s yield of 4.059% would put mortgage rates at 6.29%.ย
๐ฆน MBS Villain Scenario:ย If the Feds decided on a correction today, then it would blow out my predictions anyway. For giggles, I’ll increase the gap by .010% putting rates at 6.30%.ย
๐ถย Scenario #2 Predictions: Second Yield Update Report @ 12:30 ๐ย
I’m ๐ Watching trends between 11:00 and 1:00 for stabilization orย Revision regarding MBS Prices and the bond yield. This is whyย it’s essential to know Lenderour Lender updates their rate sheets, how frequently they will post them, and under what circumstancesย they willย change their rate price sheetย during a specificย window. ๐จ I don’t see a revision today; the markets are stable.ย
โฆ๏ธ Scenario #3 Revision โคต๏ธ: Lenderย Revision around 3:30 ๐ย
If the bond market cools off or spikes, you could see a Lender rate revision based on the yield trends after the original rate price sheet was released. ๐จ Don’t foresee a revision today, the markets are stable.ย
Today’s Prediction:ย
๐ Updated with detailed breaking news and trendsย ๐ง ๐ฅDue to shifting mortgage markets, tariff wars, and bond market chaos, I’m no longer waiting for the weekend to update. ๐ You’ll find fresh graphs, clear trends, and smart insights on where the economy and mortgage rates are heading. ๐๐
The Fed can no longer stay proactiveโthey’re now in reactive mode, which changes everything from your rate watch toย home buying plans. โ ๏ธ๐
๐ Afternoon Update: Where Did Mortgage Rates Land? 9-10-2025 @ 1:00 ๐
Scroll for Rates for the past week.ย
ย ๐ Mortgage Rates Increased Today ~ย WHY?
๐ฆ Wall Street is reacting to the jobs revision, revealing there were 911,000 fewer jobs in the year ending in March. There is definitely a wobble in the jobs market for the second month in a row, and now yearly revisions. That will set the Fed up for an interest rate cut on September 16th and 17th. For more details on the economy,ย all the graphs, visit Crack the Mortgage Rate Code and Save.๐ฒ
๐ MBS Gap Trends: Why MBS Prices Are Being Engineered by the Fed Desk & GSEs
1๏ธโฃ Gap Control ๐๏ธ โ The Fed Desk actively engineers the spread (gap) between Treasury yields and mortgage rates. By widening or compressing it, they offset bond market moves.
2๏ธโฃ Artificial Stability ๐ฆ โ When yields rise, they compress the gap so rates don’t spike too high. When yields fall, they expand the gap to keep rates from dropping too far. This creates an engineered illusion of “stable” mortgage rates. Today we had both, due to the increase in MBS prices up .048% over yesterday.ย
3๏ธโฃ Policy Pressure ๐ โ The GSEs (Fannie & Freddie) coordinate with the Desk, ensuring MBS prices align with policy goals โ not just market supply and demand.
๐ To put that in perspective: we’ve gone from a market where spreads were holding closer to historical norms, to one where the gap is being forced tighter and tighter. This isn’t natural market behavior โ it’s policy-driven compression at work.
MBS Gap Trends

ย ๐งฉ Who’s Really Compressing the Gap
๐ถ Retail lenders don’t have the balance sheet or hedging power to absorb yield shocks or MBS rallies. They’re rate takers, not rate makersโunless they’re portfolio lending, which is rare and usually flagged.
๐ทย Banks using the Fed’s underwriting system (think Desktop Underwriter or Loan Prospector) are pricing off agency guidelines. They’re not setting ratesโthey’re executing.
โฆ๏ธGLS (Government Liquidity Systems)โwhether that’s GSEs like Fannie/Freddie or Fed desk operationsโare the only entities with the capital, mandate, and tools to compress the rate/yield gap. They can:
๐ง The giveaway here
Get online Mortgage Quotes from Mortgage Daily Newsโคต๏ธClick to View More
๐ Update from MDN’s: It’s a diffecult time for the bond market and mortgage rates. The rules have already changed in a big way to accomodate the new wild card ๐ presented by tariff policies.
๐ก Letโs Decode the Mortgage Market Together! ๐ฐ๐
Letโs Connect โคต๏ธ
Wow! ๐คฏ Thereโs a lot to take in, but donโt worryโIโve got you! Mastering this step is key before searching for your dream home. ๐Understanding how mortgage rates are determined and how to negotiate with lenders on rates and fees can save you thousands over time. ๐ต But it doesnโt have to be complicated!ย ๐ Schedule a Zoom call with me, and weโll review the data step by step. Iโll share my screen, giving you a clear view of market insights so thatย you can make confident and informed decisions about your next steps. โจWould you prefer an in-person meeting ๐๏ธ or a quick phone callย at 248-343-2459 ๐ instead? No problem! Letโs set up a time that fits your schedule.
Contact me with any Questionsย
Schedule an Appointment ~ Call | or Zoom Consultation Here
โWhat My Crystal Ball ๐ฎ Tells Me About the Futureย Mortgage Market
Let’s be realโall the tools we once used to measure the economy and mortgage rates are useless now. ๐ ๏ธ๐ซ. Economists predicted mortgage rates would hit 6.62% in Q1 ending March 31; it was close. March closed out rates at 6.74%. Mortgage Ratesย spikedย in April, reaching a high of 7.09%. ๐ Economist revised mortgage rate predictions, and the average did increase slightly. The Mortgage Bank Association, if I’m looking at averages, is the closest. Now, will it hold? ๐ค

ย ย ๐ฅ The Treasury’s Dirty Little Secret is OUT!
For decades, the U.S. Treasury quietly relied on foreign nations to bankroll our debt, with China and Japan footing the bill. Still, thatย cozy setup is falling apart thanks to escalatingย trade wars and ballooning deficits ย Whether you love or hate President Trump, his aggressive tactics pulled back the curtain and exposed just how fragile our financial system isย The result ย The bondย market is on edge, with fewer willing buyers and a government scrambling to stay afloat. โ ๏ธ๐ฃ
๐ Furthermore, as the Fed pulls back and global buyers disappear, the question becomes: Who will buy all our debt bonds? GDP contracted, and now tariffs are part of our economy; I’m afraid to see what May’s report will reveal. This is scary stuff. Perhaps the governmentย shouldย reconsiderย its approach toย buyingย and selling government bonds.ย
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