Mortgage Rates Index - July 14
Mortgage rates brace for CPI inflation report
The LendZen Index tracks the price of mortgage rates across a spectrum of mortgage-backed securities.
The 5-Day net change in price is basically zero (-2), but with a 25-basis point gulch between each Monday.
The last 24-hour change was only 5 bps higher (more expensive).
Since the end of June, the price of mortgage rates has increased 39 basis points, as seen in the 10-Day chart below.
This increase is just shy of $2,000 on a $500,000 mortgage.
Since we started the index on May 1, 2025, the price of mortgage rates is 55 basis points higher.
The good news is prices are down 128 basis points from the high on May 22nd.
That is a $6,400 reduction in the cost of getting a mortgage.
Most mortgages are sold into mortgage-backed securities (MBS). The price of these bonds determines rates for all banks and lenders.
However, mortgage rates DO NOT rise or fall.
The full range of rates is always available, and instead the price of each rate is what changes.
For example, when mortgage bond prices fall the fee for each rate increases. The same rates exist, but now each is more expensive.
Traditional mortgage indices falsely suggest rates are changing by posting a daily “average” they conjure up from unverifiable data.
Meanwhile, the LendZen Index tracks the price of each mortgage rate across a spectrum of publicly traded MBS.
This provides a clearer picture of how the cost to obtain a mortgage has changed, regardless of the lender, rate, or borrower credit score.
The good news is you can check real-time mortgage rates without any human interaction or the constant back-and-forth with a loan officer.
LendZen is a fully automated mortgage shopping experience that gives you anonymous access to all mortgage rates with full transparency of costs upfront.
Customize your own loan in under a minute and get instant qualification results for your exact scenario.
Then revisit your real-time options anytime in the future with just one-click – no need to contact a salesperson, reply to “quote threads”, or fill out documents.
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You can also request an official Loan Estimate for the exact pricing you see online with no extra steps.
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Refinance loans get an instant BREAKEVEN analysis based on pure math and without any sales bias.
The analysis shows you whether a refinance will benefit you and what rate has the most savings, using any timeline you decide.
All of this is at your fingertips when you visit LendZen.com
