Here’s a concise roundup of the latest U.S. mortgage-market news and what to watch next (dates and sources included).

Key headlines

• Mortgage rates have moved materially lower this week: Freddie Mac reported the 30‑year fixed averaged 6.35% as of September 11, 2025 (down from 6.50% a week earlier). (globenewswire.com)
• The Mortgage Bankers Association’s weekly data (week ending Sept. 5, 2025) also showed a big drop in the average 30‑year rate to about 6.49% and a sharp jump in applications. (reuters.com)
• The move lower is being driven by declines in Treasury yields (the 10‑year has been trading near ~4.0% recently), which pushed mortgage‑backed securities and lenders’ pricing lower. Weakness in labor‑market data has amplified those moves. (cnbc.com)
• Lower rates have already spurred activity: refinance volume and overall mortgage applications rose sharply in the latest MBA/Freddie data (refis making up an unusually large share). (reuters.com)
• Broader housing indicators remain mixed: NAR data show existing‑home sales softened in August while price growth has slowed (Case‑Shiller shows much more modest year‑over‑year gains than in prior years). Supply is gradually increasing in some markets, but inventory remains constrained in many affordable metros. (nar.realtor)

Why it matters

• Mortgage rates follow bond markets (10‑year Treasury and MBS); if yields stay lower, more homeowners will become able to refinance or afford purchases, which can boost sales and inventory turnover. Conversely, if yields bounce back the rate relief may be fleeting. (cnbc.com)
• A surge in refinancing can reshape lender pipelines and put downward pressure on mortgage spreads, but it also makes the market more rate‑sensitive going into the Fed meeting.

What to watch next (most market‑moving items)

• Federal Reserve decision and message (FOMC meeting: September 16–17, 2025) — markets are pricing a high probability of a 25 bps cut at that meeting; the Fed’s statement and dot plot will move both short and long rates. (investing.com)
• Weekly jobless claims, monthly payrolls and CPI/PPI readings — these data points will influence whether bond yields and mortgage rates keep falling or rebound. (cnbc.com)
• Treasury yields and MBS performance intraday — small moves in the 10‑year can translate into noticeable mortgage‑rate changes for consumers.

Quick takeaway

• As of mid‑September 2025, mortgage rates have fallen enough to reignite refinance activity and lift purchase applications, but the durability of the decline depends on upcoming economic data and the Fed’s choices at the Sept. 16–17 meeting. If you’re watching rates for a refinance or purchase, expect volatility around those data releases and the Fed decision. (globenewswire.com)

If you want, I can:

• Pull the very latest Freddie Mac and MBA weekly numbers for today’s date (I can fetch the newest PMMS and MBA Weekly Application Survey), or
• Check current lender rate offers in your ZIP code to estimate likely borrower rates.