Fri, Feb 21 2025, 3:22 PM
Back on December 18th, rates began the day fairly close to where they ended the previous day. In the afternoon, rates surged sharply higher following ...
Thu, Feb 20 2025, 4:00 PM
It was a fairly decent day for mortgage rates with the average lender returning to the lowest levels in just over 2 months. The improvement followed e...
Wed, Feb 19 2025, 3:42 PM
It was almost a mildly interesting day as rates started out slightly higher. To be fair, even that would not have been too interesting because the mo...
Tue, Feb 18 2025, 4:24 PM
Mortgage lenders were unable to update their rates yesterday as the bond market was closed for the Presidents Day holiday. Three day weekends can occ...
Fri, Feb 14 2025, 3:20 PM
The final two days of the present week weren't on many bingo cards as of Wednesday afternoon. At the time, rates were jumping higher in response to i...
Thu, Feb 13 2025, 3:21 PM
Mortgage rates jumped quickly higher yesterday following the higher inflation reading in the Consumer Price Index (CPI). Now today, rates have complet...
Wed, Feb 12 2025, 3:36 PM
Today's mortgage rate movement is very straightforward. Unfortunately, it's also marked by a straight line toward higher levels--in this case, the hi...
Tue, Feb 11 2025, 3:14 PM
Any recap of financial news headlines will likely mention Fed Chair Powell's congressional testimony today. Some efforts could even be made to link t...
Mon, Feb 10 2025, 3:24 PM
Mortgage rates have been on a vacation from volatility since January 16th when they fell back toward 7% after hitting the highest levels since May 202...
Fri, Feb 7 2025, 12:55 PM
Friday brought the release of the big jobs report which is historically more likely than any other monthly economic report to cause the biggest pops o...
Thu, Feb 6 2025, 3:20 PM
Yesterday was notable for being the first day in more than a week to offer any excitement for rates. More notably, that excitement was the good kind....
Wed, Feb 5 2025, 2:55 PM
The recent absence of volatility in day-to-day mortgage rate movement has been an easy target for light-hearted indignation among market watchers. Bu...
Tue, Feb 4 2025, 4:26 PM
If you like your mortgage rate movement boring and minimal, this week's for you (and last week, and the week before that). Going all the way back to ...
Mon, Feb 3 2025, 4:10 PM
We know that mortgage rates are driven by financial markets and we know that financial markets have experienced volatility amid the roll-out of new ta...
Fri, Jan 31 2025, 4:33 PM
For all of the news that seems to be highly likely to cause volatility for rates, the market reaction ended up playing out on a very small scale. The ...
Thu, Jan 30 2025, 4:08 PM
Interest rates are driven by the bond market and bonds are at their best levels in over a month. As such, it's no surprise that mortgage rates are abl...
Wed, Jan 29 2025, 3:47 PM
Heading into today's Fed announcement, we didn't expect to receive any significant surprise on the stance of monetary policy. Financial markets had l...
Tue, Jan 28 2025, 3:07 PM
The average mortgage lender remained right in line with yesterday's levels despite a bit of weakness in the bond market. Lenders who improved their r...
Mon, Jan 27 2025, 3:47 PM
There are two distinct patterns of behavior when it comes to rates interacting with stocks. The first could be called the "conventional wisdom" patte...
Fri, Jan 24 2025, 3:46 PM
While there were only 4 business days instead of the customary 5, it's been an intensely boring week for mortgage rates. Tuesday started out right wh...
Thu, Jan 23 2025, 3:39 PM
After several consecutive days without any noticeable changes, mortgage rates finally made a move today. Unfortunately, that move was higher. Thankfu...
Wed, Jan 22 2025, 3:38 PM
Given that rates take cues from bonds and bonds take cues from economic data, it's perhaps no surprise to see an absence of volatility in rates on a w...
Tue, Jan 21 2025, 4:36 PM
Mortgage rates are driven predominantly by the bond market and bonds were able to clear up a few curiosities on inauguration day. Specifically, trade...
Fri, Jan 17 2025, 4:19 PM
Mortgage rates are driven by the bond market and Friday was the least active day of the week for bonds. There were no major economic reports to cause...
Thu, Jan 16 2025, 4:01 PM
After having a great day yesterday, mortgage rates were able to add another "good" day today. The net effect brings the average lender's top tier 30y...
Wed, Jan 15 2025, 4:08 PM
We knew that today's Consumer Price Index (CPI) was a hotly anticipated economic report that at least had the potential to give rates a big push, and ...
Tue, Jan 14 2025, 4:26 PM
Mortgage rates officially hit the highest levels since May 2024 yesterday, even though the average was almost imperceptibly higher than last Friday's....
Mon, Jan 13 2025, 4:15 PM
Mortgage rates rose to the highest levels since May 2024 by the end of last week following a stronger reading on the jobs report. Technically, the sam...
Fri, Jan 10 2025, 3:57 PM
Mortgage rates were already at 6 month highs earlier this week so it didn't take much of a push to send them up to new 7 month highs today. The push ...
Thu, Jan 9 2025, 1:47 PM
Mortgage rates are driven by movement in the bond market and bonds were on a shortened schedule today due to the federal day of mourning for Jimmy Car...
Wed, Jan 8 2025, 2:54 PM
For the second day in a row, mortgage rates have moved higher at a modest to moderate pace. Unfortunately, that's been a trend so far in 2025 and it's...
Tue, Jan 7 2025, 3:36 PM
We came into the current week knowing that rates would take cues from any clear cues in this week's economic data. In general, that means higher rate...
Mon, Jan 6 2025, 3:25 PM
The bond market and interest rates have arrived at the first full week of the new year almost exactly where they left off before the X-mas/New Year ho...
Fri, Jan 3 2025, 4:33 PM
The official holiday dates may be in the rearview, but as far as interest rates and underlying bond markets are concerned, this was the last day of th...
Thu, Jan 2 2025, 4:40 PM
The last time mortgage rates were moving with any sense of urgency was in the days surround the Fed's rate cut on December 18th. Incidentally, that mo...
Tue, Dec 31 2024, 1:39 PM
Major holidays typically involve a full day market closure along with an "early close" on an adjacent day. This matters to rates because mortgage len...
Mon, Dec 30 2024, 3:31 PM
Because mortgage rates are determined by trading levels in the bond market, when the market is closed, lenders don't update their rate offerings. As ...
Fri, Dec 27 2024, 4:16 PM
Mortgage rates didn't move much today, and markets have been very quiet due to the holiday week. So we'll take a quick moment for a retrospective. I...
Thu, Dec 26 2024, 3:51 PM
Mortgage rates are based on trading levels in the bond market and bond market activity has been extremely slow, as is normally the case during the Chr...
Mon, Dec 23 2024, 3:36 PM
Holidays have inconsistent impacts on mortgage rates because holiday's have inconsistent impacts on the bond market (and rates are dictated by the bon...
Fri, Dec 20 2024, 4:11 PM
The week's big story is still the big jump in rates that took place after Wednesday's Fed announcement. And while rates remain noticeably elevated on...
Thu, Dec 19 2024, 3:50 PM
We received some anonymous feedback regarding recent rate commentary that serves as a good reminder that not everyone may be picking up what we're put...
Wed, Dec 18 2024, 4:19 PM
If anyone needed any further convincing that a Fed rate cut is no guarantee of lower mortgage rates, today is a great piece of evidence. Perhaps "gre...
Tue, Dec 17 2024, 3:36 PM
Mortgage rates have been having a much calmer week compared to last week. Monday brought a modest decline versus last Friday and today's rates are ef...
Mon, Dec 16 2024, 3:56 PM
Last week wasn't great for mortgage rates. They moved higher on each of the 5 days. Moreover, there was a distinct lack of logical motivation from t...
Fri, Dec 13 2024, 3:13 PM
There's no easy way to say it: it was a bad week for mortgage rates. Actually, it was a bad week for interest rates in general and mortgage rates typ...
Thu, Dec 12 2024, 4:08 PM
It's been a bummer of a week for mortgage rates with modest to moderate increases every day so far. Adding insult to injury is the fact that there ha...
Wed, Dec 11 2024, 3:32 PM
Mortgage rates were having a pretty decent day at first. The bond market was only slightly weaker overnight (implies some upward pressure on rates), ...
Tue, Dec 10 2024, 3:34 PM
Between November 18th and December 6th, the average top tier 30yr fixed mortgage rate moved down from 7.08 to 6.68. A 0.40% drop is rather significan...
Mon, Dec 9 2024, 4:26 PM
Mortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a half. Today's rates ended up being the 2nd low...
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