What moves mortgage rates from day to day, explained without forecasts
Why quotes change daily
Forecast-free answer
Lenders set mortgage prices each morning from the market value of mortgage-backed securities and reprice when those markets move sharply. A quote from Monday and one from Wednesday are not comparable, which is why comparing offers from the same day matters.
Last reviewed against the primary sources listed below.
What you can control
- Compare quotes taken on the same day.
- Lock once you have a contract and a timeline.
- Focus on factors in your file, such as credit and down payment.
Market questions
Can mortgage rates change during the day?
Yes. Lenders can issue new pricing when bond markets move significantly during the day.