Your Money Minute – “Mortgage Rates Near Lowest In A Year”

Host: Jessica Ettinger (CNBC)
Aired: September 9, 2025
Episode Duration: 1 minute

Episode Overview

This quick episode focuses on the notable drop in U.S. mortgage rates, marking their lowest level in nearly a year. Host Jessica Ettinger, along with insights from CNBC’s Diana Olek and Mortgage News Daily’s Matt Graham, discuss what this means for potential homebuyers and homeowners considering refinancing.

Key Discussion Points & Insights

1. Significant Drop in Mortgage Rates

• Mortgage rates experienced the largest one-day drop since August of the previous year.
• The average 30-year fixed mortgage rate is now 6.29% (00:11), down 16 basis points from the prior rate.

2. Lowest Rates Since October Last Year

• [00:22] Diana Olek shares that rates have not been this low since October 3rd of the previous year, citing Mortgage News Daily.

3. Opportunities for Buyers and Refinancers

• Jessica Ettinger notes, “If you're looking to buy a house or just refinance the mortgage you have, you could grab a rate in the low sixes and even high fives.” (00:27)

4. Lender Competition and Rate Variability

• [00:35] Matt Graham (Mortgage News Daily) points out:
  • “We're finally breaking out of this high 6% range that it's been in for many months.”
  • Many lenders are offering even more competitive rates, quoting as low as 6.125% and in the high fives.
  • This is a significant improvement from just a few months earlier (May) when rates soared above 7%.

Notable Quotes & Memorable Moments

• Jessica Ettinger (Host):
  "Maybe enough to get would be homebuyers out there looking." (00:04)

• Diana Olek (CNBC):
  "The average on the 30 year fix dropped 16 basis points to 6.29%. This is the biggest one day drop in rates since August of last year." (00:11)

• Matt Graham (Mortgage News Daily):
  "We're finally breaking out of this high 6% range that it's been in for many months. ... Many lenders will be quoting in the high fives. So it's a major difference from May, when that rate went over 7%." (00:35)

Timestamps for Important Segments

• 00:00 – Introduction: Context on recent mortgage rate trends
• 00:11 – Diana Olek details the drop in the 30-year fixed rate and historical context
• 00:22 – Reference to the lowest rate levels since October last year
• 00:27 – Jessica Ettinger discusses opportunities for buyers/refinancers
• 00:35 – Matt Graham explains lender competition and rate variability

Tone & Style

The episode uses clear, actionable language and maintains a reassuring, informative tone, aiming to empower listeners to act amidst favorable market conditions.

For More Information

Listeners are advised to visit CNBC.com for further details.