“Rates typically move higher if job openings are higher than expected, all else equal,” wrote Matthew Graham, chief operating officer at Mortgage News Daily, adding that this data-driven volatility is nothing compared with what could be seen on Thursday following the government’s release of the monthly employment report.

Multiple important refinance rates have dropped. Refinance rates change daily, but experts say rates could inch down in the coming months.

Major industry organizations, including the Mortgage Bankers Association, Freddie Mac and Fannie Mae, expect mortgage rates to close in 2025 at about 6.5% or so. As of March 2025, mortgage rates have rested between 6% and 7% for months,