Tue, Jan 10 2023, 3:51 PM
After coming close to the lowest levels in 4 months yesterday, mortgage rates bounced slightly higher today. There's never any way to know exactly wh...
Mon, Jan 9 2023, 3:43 PM
Last Friday was a great day for mortgage rates with two important economic reports helping the bond market make serious gains (read more). Mortgage le...
Fri, Jan 6 2023, 4:50 PM
The Federal Reserve (aka "The Fed") has a parrot problem, and it's on a crash course with economic reality... maybe. The Fed sets policies that impac...
Thu, Jan 5 2023, 3:32 PM
The most basic way to think about interest rate movement is to assume that a strong economy pushes rates higher and vice versa. There are many other ...
Wed, Jan 4 2023, 4:11 PM
There are Fed Announcements, which involve rate hikes/cuts, press conferences, and updated rate forecasts after a 2 day meeting among Fed members. An...
Tue, Jan 3 2023, 4:00 PM
The bond market (which determines mortgage rates) has officially endured the frustratingly unique holiday trading environment that often creates undue...
Fri, Dec 30 2022, 1:12 PM
So long 2022! Don't let the door hit you. You were the worst year for mortgage rates that most of us have seen in our lifetimes in terms of the pace...
Thu, Dec 29 2022, 3:28 PM
Mortgage rates began the day very close to yesterday's latest levels. The average lender was just a hair higher. As the day progressed, US bonds fol...
Wed, Dec 28 2022, 3:10 PM
Up until just the past few weeks, the go-to headline to quantify the pace of recent mortgage rate movement tended to reference rates being the lowest ...
Tue, Dec 27 2022, 5:28 PM
Mortgage rates are based on trading in the bond market and it's a frustrating time of year for those seeking a rational relationship with bonds. In t...
Fri, Dec 23 2022, 1:10 PM
The last two weeks of December are unlike almost any time of year in terms of market movement and what we should read into it, but there were several ...
Thu, Dec 22 2022, 2:58 PM
Rates have calmed down after some unfortunate and unexpected volatility at the beginning of the week. The average lender is offering just slightly hi...
Wed, Dec 21 2022, 4:36 PM
The headline could be read two ways. To be clear, the "recent rise" refers to Monday and Tuesday of this week. Before that, mortgage rates spent the...
Tue, Dec 20 2022, 4:26 PM
What a difference a few days have made for mortgage rates, and in this case, not a good difference. The average lender was offering the lowest rates ...
Mon, Dec 19 2022, 3:52 PM
As much as it may seem that financial markets are driven by machines and code, human beings are still critical to day to day functioning. This is esp...
Fri, Dec 16 2022, 5:12 PM
It was a critical week for financial markets and especially for rates as investors digested the latest inflation data and the Fed's smaller rate hike....
Thu, Dec 15 2022, 3:45 PM
Mortgage rates are based primarily on the bond market (specifically, mortgage-backed securities or MBS). When MBS improve, lenders are creating loans...
Wed, Dec 14 2022, 5:48 PM
It's often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no further conseque...
Tue, Dec 13 2022, 4:49 PM
There aren't many scheduled economic reports that are as hotly anticipated as was today's Consumer Price Index (CPI). The market's reaction more than...
Mon, Dec 12 2022, 3:59 PM
The week began in fairly uneventful fashion for mortgage rates, at least in the bigger picture. In the smaller picture, there was a modicum of drama ...
Fri, Dec 9 2022, 7:07 PM
Tuesday December 13th is the day many people have been waiting for ever since Thursday November 10th. What do those two days have in common? They each...
Thu, Dec 8 2022, 4:08 PM
Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report ...
Wed, Dec 7 2022, 4:49 PM
Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3. Labor costs are one of the places t...
Tue, Dec 6 2022, 4:57 PM
This week continues to be a placeholder ahead of more consequential events coming up in the week ahead. Specifically, next Tuesday and Wednesday's co...
Mon, Dec 5 2022, 4:08 PM
Mortgage rates ended last week very close to their lowest levels in more than 2 months after Fed Chair Powell essentially confirmed next week's rate h...
Fri, Dec 2 2022, 3:48 PM
As far as financial markets are concerned, a green Christmas is better than anything Bing Crosby could have crooned about. Green is the color that fla...
Thu, Dec 1 2022, 4:05 PM
Mortgage rates had been in a holding pattern for nearly 3 weeks following the November 10th CPI inflation data. On that single day, the average 30yr ...
Wed, Nov 30 2022, 4:40 PM
Mortgage rates moved slightly lower today, but barring a major market reversal overnight, could be even lower tomorrow. It's fairly rare to be able t...
Tue, Nov 29 2022, 4:47 PM
It's been hard to find an interesting new angle on mortgage rates over the past 2+ weeks. They've been remarkably flat during that time after falling...
Mon, Nov 28 2022, 4:31 PM
Excitement, volatility, non-stop action... concepts that have absolutely nothing to do with mortgage rate movement over the course of the past two wee...
Wed, Nov 23 2022, 3:42 PM
Bond markets will be closed for Thanksgiving tomorrow. That means mortgage lenders won't be publishing new rates. While markets are technically open...
Tue, Nov 22 2022, 3:35 PM
Rates are driven by bonds and mortgage rates are driven by mortgage-backed bonds. These bonds trade in the open market all day every day. Mortgage l...
Mon, Nov 21 2022, 3:12 PM
Mortgage rates made their biggest recent move (and their biggest single day move ever) 2 Thursday's ago after a key report showed inflation was lower ...
Fri, Nov 18 2022, 3:37 PM
There's no question that last week was an exciting one for rates. On Wednesday, the average 30yr fixed was fairly close to the highest levels since 20...
Thu, Nov 17 2022, 5:18 PM
If you'd like to get the quick scoop and be on your way, here you go: the big move in rates happened last Thursday when the average 30yr fixed dropped...
Wed, Nov 16 2022, 3:09 PM
The mortgage landscape is very interesting at the moment. On any given day, some lenders are moving higher, others are moving lower, and the rest are...
Tue, Nov 15 2022, 3:31 PM
Let's talk about the current state of mortgage rates. Before we do, some housekeeping: the following pertains to averages across multiple lenders. T...
Mon, Nov 14 2022, 4:56 PM
If you're just getting caught up, last Thursday was one for the record books--at least when it comes to the daily records that exist going back to 200...
Thu, Nov 10 2022, 5:11 PM
Heading into this week, we knew that Thursday's Consumer Price Index (CPI) would be critically important. It did not disappoint. CPI is one of two ke...
Wed, Nov 9 2022, 4:07 PM
Mortgage rates experienced one of their calmest days of the past few weeks with the average lender roughly unchanged from yesterday. Rates are based ...
Tue, Nov 8 2022, 4:37 PM
We're in the middle of a 4 day week culminating in one of the most important events of the year for interest rates. Thursday morning brings the relea...
Mon, Nov 7 2022, 5:07 PM
Mortgage rates are directly linked to trading levels in the bond market. When bonds have a bad day, rates tend to rise. While that was true for the ...
Thu, Nov 3 2022, 3:49 PM
If you missed yesterday's explanation of the Fed's impact on mortgage rates, it's worth a read (assuming you'd like to understand the Fed's impact on ...
Wed, Nov 2 2022, 6:43 PM
The Federal Reserve hiked rates by 0.75% today and 30yr fixed mortgage rates moved moderately higher. Interestingly enough, those two things are fair...
Tue, Nov 1 2022, 5:06 PM
Mortgage rates moved slightly lower today after spending the past two trading days moving higher. The average lender remains in the low 7% range for ...
Mon, Oct 31 2022, 4:40 PM
Mortgage rates are fresh off their best week since at least July and their best winning streak (in terms of consecutive days moving lower) in well ove...
Thu, Oct 27 2022, 5:00 PM
As of yesterday, mortgage rates were already on their best winning streak since late July in terms of consecutive days spent moving lower. With today...
Wed, Oct 26 2022, 5:29 PM
Mortgage rates moved lower for an impressive 4th straight day. That hasn't happened since late July, but there are a few caveats. First off, while t...
Tue, Oct 25 2022, 5:18 PM
Yesterday, we noted that the 2nd consecutive day of improvement for mortgage rates was a rare accomplishment in the context of the past few months. N...
Mon, Oct 24 2022, 5:15 PM
Now here's a rare thing! Mortgage rates managed to move lower, on average, for the 2nd consecutive business day on Monday. That hasn't happened for r...
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