Mortgage Rates Ease After Last Week’s Spike: Raleigh Market Update – 04/17/2025

After a dramatic increase earlier this month, mortgage rates have finally pulled back, giving some relief to Raleigh homebuyers. Although weekly survey data shows higher averages, real-time rates are now trending lower. Here’s what you need to know about where rates stand and what’s influencing the volatility.

Why Last Week’s Mortgage Rate Headlines Were Confusing

You may have seen conflicting headlines last week—some said mortgage rates were falling, while others reported one of the largest jumps in months. Surprisingly, both were technically true.

That discrepancy comes down to how mortgage data is collected. Weekly reports from sources like Freddie Mac and the MBA average data from earlier in the week, often missing major shifts that happen later. So when rates surged after April 4, the reports still reflected earlier lows—causing headlines to lag behind reality.

Daily Rates vs. Weekly Surveys: What’s the Real Story?

Here’s the timeline that caused the confusion:

• Friday, April 4: Mortgage rates hit recent lows.

• By April 11: Rates had climbed to their highest level since February.

By the time the data caught up this week, Freddie Mac reported a 30-year fixed average of 6.83%, and the MBA showed 6.81%—reflecting the late-week spike. But now that volatility is calming, daily averages are back in the high 6% range, down from the low 7% range just days ago.

So while the weekly average is higher, rates are moving in a more favorable direction for buyers.

What’s Driving Mortgage Rate Volatility?

This rate rollercoaster is largely driven by economic uncertainty and shifting market expectations, including:

• Tariff Impacts: New trade tariffs have investors worried about both inflation and slowing economic growth.

• Federal Reserve Uncertainty: Fed Chair Jerome Powell mentioned that the Fed’s dual mandates—managing inflation and supporting employment—are currently in tension. That’s creating mixed signals about future interest rate policy.

These factors caused a sell-off in the bond market last week, which pushed mortgage rates higher. But a more measured policy response has helped stabilize markets, bringing rates back down slightly this week.

What This Means for Raleigh Homebuyers

If you’re house hunting in the Raleigh area, here’s what you need to keep in mind:

• Mortgage rates are still volatile, but they’ve retreated from last week’s highs.

• Locking in a rate now might be a smart move if you’re close to making an offer.

• Adjustable-rate mortgages (ARMs) are gaining popularity for their lower initial rates.

Working with a local expert like Certified Home Loans can help you stay ahead of the market and make informed decisions based on real-time data—not lagging reports.

Talk to Certified Home Loans for Personalized Advice

At Certified Home Loans, we track mortgage trends daily—not weekly—so you always get the most accurate picture of the market. Whether you’re buying your first home or refinancing, our team can help you take advantage of rate movements and explore the best loan options for your needs.

📞 Contact us today to get started or to discuss where rates are heading next.