Idaho Mortgage Rate Update – Friday, May 9, 2025

As we wrap up the week here in Idaho, mortgage rates are ending up about where they started. That means we didn’t see big swings—good news for anyone in the process of buying or refinancing a home.

Still, there’s some uncertainty heading into the weekend, and it could impact rates early next week. Let’s break down what’s happening.

What’s Moving the Market?

Mortgage rates are closely tied to the 10-year Treasury yield, which moves based on investor sentiment, inflation data, and global events. Today, bonds opened slightly weaker but quickly turned positive. That’s a good sign for rates.

One key factor to watch: U.S.-China trade talks set to begin Saturday in Switzerland.

If these talks lead to a real trade deal (especially one that lowers tariffs), it could ease inflation fears and help push mortgage rates lower.
If the talks are mostly political posturing with no meaningful progress, rates are likely to stay the same or rise slightly due to lingering market uncertainty.

So while today’s market looks steady, floating into Monday carries some risk.

Estimate Your Mortgage Payments Before Locking a Rate

Before locking in a mortgage rate, it’s smart to run the numbers using a mortgage calculator. This tool helps you:

Estimate your monthly mortgage payment based on current interest rates
See how different loan amounts or down payments affect your budget
Compare how rate changes could impact your affordability

Using a calculator gives you a clearer picture of what to expect—and helps you feel more confident about when to lock your rate.

What Should Idaho Borrowers Do Right Now?

Your decision to lock or float your rate depends on how soon you’re closing:

Closing in <15 Days: Cautiously float. Rates aren’t volatile right now, and there’s potential for improvement Monday. But if you’re risk averse, locking now isn’t a bad idea either.
Closing in 15–30 Days: Also float cautiously. Rates may rise slightly, but there’s no strong signal they’ll spike. Odds are they’ll come back down again before you’re forced to lock.
Closing in 30+ Days: Float. There’s minimal risk at the moment, and time is on your side.

What Happened Yesterday?

Even though Thursday was supposed to be a calm day with low reprice risk, things shifted fast. The bond market deteriorated sharply with no clear reason—leading many lenders to reprice worse by the end of the day and erasing Wednesday’s gains.

It’s a reminder that mortgage rates can shift quickly, and having a plan matters.

Let’s Lock in the Right Rate—Together

I help Idaho homebuyers navigate the rate market with expert advice and a strategy based on your timeline. Let’s talk about your options, estimate your monthly payments, and find the best time to lock in your loan.

Jesse Stroup | Mortgage Broker
Call me at 208-907-2846 or fill out the form to get in contact

Home Loans of Idaho, LLC
NMLS ID 6229 | 2187314
Equal Housing Opportunity