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...
Fri, Dec 6 2024, 4:29 PM
As of last week, rates were showing some signs of resilience, but they had to wait for the true test from this week's jobs report. Spoiler alert: they...
Thu, Dec 5 2024, 3:58 PM
It's been a remarkably calm week for mortgage rates, and a fairly decent one relative to several recent examples. The average top tier 30yr fixed rat...
Wed, Dec 4 2024, 4:23 PM
Mortgage lenders generally try to avoid setting rates more than once per day, but they will make changes if the underlying bond market is moving enoug...
Tue, Dec 3 2024, 3:30 PM
The bond market is the primary driver of mortgage rate movement and normally, "weakness" equates to higher rates. Bonds are slightly weaker today com...
Mon, Dec 2 2024, 4:34 PM
Mortgage rates remain elevated relative to the levels seen in September and early October, but they've definitely moved down a bit from their recent h...
Wed, Nov 27 2024, 2:53 PM
The interest rate market continues the healing process after taking heavy damage in October. During the course of that month, the average top tier co...
Tue, Nov 26 2024, 2:12 PM
Although there was a busier calendar of economic data today, mortgage rates are little changed after dropping at the fastest pace in several weeks to ...
Mon, Nov 25 2024, 3:32 PM
Last Monday, mortgage rates were near the highest levels in more than 3 months. A week later, and the average lender is right in line with the lowest...
Fri, Nov 22 2024, 3:01 PM
Starting in early October, mortgage rates experienced significant volatility, meaning the average day over day change was much bigger than normal. Wh...
Thu, Nov 21 2024, 4:26 PM
They may not be low. In fact, they may still be a lot higher than you want, but at least they haven't been too volatility this week. For the 7th day...
Wed, Nov 20 2024, 4:22 PM
Remember October and the first part of November--not because of the election, but rather because of the relentless rise in mortgage rates? Would you ...
Tue, Nov 19 2024, 4:27 PM
Ask your favorite curmudgeonly old market watcher and they'll be happy to explain what "always" happens in financial markets when there's breaking new...
Mon, Nov 18 2024, 4:01 PM
The average top tier conventional 30yr fixed rate was just a hair over 7% on Friday afternoon and the same is true at the start of the new week. Rate...
Fri, Nov 15 2024, 2:54 PM
This afternoon's mortgage rates are higher than yesterday's latest levels. That's a result of bond market weakness seen late yesterday and earlier th...
Thu, Nov 14 2024, 4:15 PM
Losses... weakness... selling pressure... When any of these things happen in the bond market, it puts upward pressure on interest rates. Mortgage ra...
Wed, Nov 13 2024, 3:28 PM
While there's been plenty of movement in the average mortgage rate on any given day recently, today was not one of them. 30yr fixed rates remained ab...
Tue, Nov 12 2024, 3:35 PM
Last Thursday and Friday offered some hope that the persistent move to higher rates was finally leveling off. It wasn't necessarily a rational hope, ...
Fri, Nov 8 2024, 5:22 PM
The bond market dictates day to day movement for all manner of interest rates, including mortgages. On election night, bond yields (another word for ...
Thu, Nov 7 2024, 4:33 PM
There's a distinct risk that, even in the financial community, that people will look back on today's drop in interest rates and conclude it must have ...
Wed, Nov 6 2024, 3:03 PM
Mortgage rates spent the entire month of October moving higher at a fairly quick pace. Some of that had to do with stronger economic data, but at lea...
Tue, Nov 5 2024, 4:00 PM
More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market. Even thou...
Mon, Nov 4 2024, 3:16 PM
Love it or hate it, election-related volatility has been having a big impact on the bond market and, thus, mortgage rates. Most of the volatility has...
Fri, Nov 1 2024, 4:50 PM
It is our longstanding policy to strictly avoid politics except in cases where the political realm legitimately intersects with relevant events for ra...
Thu, Oct 31 2024, 3:35 PM
Mortgage rates rates moved moderately higher today, and while that leaves the average 30yr fixed rate only slightly higher than it was on Tuesday morn...
Wed, Oct 30 2024, 3:57 PM
The jobs report that came out at the beginning of October was a big wake up call for interest rates. Up until then, the prevailing belief was that th...
Tue, Oct 29 2024, 3:56 PM
Mortgage rates tend to be updated only once per day. Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentia...
Mon, Oct 28 2024, 3:58 PM
It's no mystery that mortgage rates have had a terrible October. As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--a...
Fri, Oct 25 2024, 12:35 PM
Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then. Technically each subsequent day saw a micros...
Thu, Oct 24 2024, 4:02 PM
Mortgage rates have risen every day since October 15th and some of the jumps have been fairly big. That followed an even bigger increase earlier in t...
Wed, Oct 23 2024, 4:09 PM
Mortgage rates have been moving two directions recently and both of them are "up." Only the pace changes. Today's pace was modest to moderate, but b...
Tue, Oct 22 2024, 3:47 PM
Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headl...
Mon, Oct 21 2024, 3:42 PM
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-Septem...
Fri, Oct 18 2024, 3:52 PM
There hasn't been much day to day movement in mortgage rates after the big jump caused by the jobs report earlier in the month. That jump ended on Mo...
Thu, Oct 17 2024, 3:45 PM
Mortgage rates are driven by the bond market and bonds consistently take cues from economic data. Traders have been waiting on this Thursday's econom...
Wed, Oct 16 2024, 3:44 PM
Mortgage rates have been holding in a fairly narrow range since the middle of last week and today was one of the least interesting additions to the tr...
Tue, Oct 15 2024, 4:03 PM
The average mortgage lender is quoting rates that are just a fraction of a hair lower today compared to last Friday. Lenders were either closed or ot...
Fri, Oct 11 2024, 3:28 PM
While this week's rates were substantially higher than most of last week's, if we remove a few flashes of volatility, the average lender stayed very ...
Thu, Oct 10 2024, 3:59 PM
We can appreciate that the daunting task of determining what "the" actual mortgage rate may be at any given moment. The word "the" is singled out in ...
Wed, Oct 9 2024, 3:28 PM
Today brought the release of the minutes from the most recent Fed meeting in addition to numerous Fed speeches and the scheduled auction of 10yr Treas...
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