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Mortgage rates have been volatile recently, with 3 out of the past 5 business days seeing much-bigger-than-average moves. After improving nicely yesterday, rates rose quickly today by nearly the same amount. Relative to the recent landscape, this leaves us in the same territory as Thursday the 19th, on average. Throughout this volatile stretch, top tier 30yr fixed rates have averaged 4.125% during better moments and 4.25% on the bad days. The latter is slightly more prevalent today, but 4.125% is still out there. A mere eighth of a percentage point might not sound like much. It may not even BE much if considered in terms of the monthly payment change (about $14/mo on a 200k loan). But for borrowers looking to move down an eighth from today's quotes, it would cost more than $1000 on that same
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Mortgage Rate Watch
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Mortgage rates have been volatile recently, with 3 out of the past 5 business days seeing much-bigger-than-average moves. After improving nicely yesterday, rates rose quickly today by nearly the same amount. Relative to the recent landscape, this lea... (read more) |
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Rob Chrisman
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Depository banks know that, per the AARP, more than 67% of US assets are controlled by individuals age 50+, with this group representing more than 67% of all bank deposits. If you don’t think that lenders view reverse mortgages as a growth indu... (read more) |
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Housing News
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Existing home sales finished out 2016 with a generally expected decline. Still, the National Association of Realtors® (NAR) said today that 2016 overall was the best year for existing home sales in a decade . Sales of existing single-family homes... (read more) |
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Mortgage Rate Watch
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Mortgage rates fell somewhat significantly today, fully offsetting last week's rise. Specifically, today's average rates are back in line with those seen on Friday, January 23rd (keep in mind, however, that rates were slightly lower last Tuesday befo... (read more) |
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MBS Commentary
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Today's only significant economic data hits at 10am ET with Existing Home Sales (5.52 mln forecast vs 5.61 mln previously). Given the bigger decline in the most recent Pending Home Sales data, 5.52 mln is a bit of a bullish guess among economis... (read more) |
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MBS Commentary
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Mt. St. Helens was the most destructive volcano in US history. Mt. St. Yellen has almost nothing to do with it apart from the fact that the bond market movement seen since last week's Yellen speech sort of resembles a mountain. Yellen'... (read more) |
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