Wed, May 15 2024, 2:28 PM
If it feels like we've been harping on the prospects for rate volatility in response to today's inflation data for several weeks (and we have), today ...
Tue, May 14 2024, 4:31 PM
We've been waiting for tomorrow since April 10th. That's the last time the Consumer Price Index (CPI) was released. This is one of the two official ...
Mon, May 13 2024, 4:24 PM
Last Thursday, mortgage rates merely had to hold steady in order to hit 1-month lows. In other words, Wednesday's rates were low enough to earn that ...
Fri, May 10 2024, 4:24 PM
In general, you should be skeptical any time someone says a future week will be more volatile. There's really no way to know such things in advance, b...
Thu, May 9 2024, 4:45 PM
The most prevalently quoted conventional 30yr fixed rates are at the lowest levels in a month as of today, but there are a few "yeah buts" that make t...
Wed, May 8 2024, 4:47 PM
Yesterday, we took a look at the recent winning streak for mortgage rates. Specifically, they had moved lower for 5 straight days--a feat only achiev...
Tue, May 7 2024, 3:58 PM
There have been 3 winning streaks for mortgage rates in 2024 where the average rate has moved lower for at least 5 days and where the conventional 30y...
Mon, May 6 2024, 4:16 PM
Mortgage rates did well last week, making it almost halfway back to the lower levels seen on April 9th. Why focus on April 9th? That was the last da...
Fri, May 3 2024, 5:14 PM
It was an action-packed week for the housing and mortgage market. Wednesday's Fed announcement was the highlight, but we also got several economic rep...
Thu, May 2 2024, 4:28 PM
The bond market--which dictates interest rates--had a generally favorable response to yesterday's update from the Federal Reserve. While the Fed didn...
Wed, May 1 2024, 4:08 PM
Wednesday brought a full schedule of events and data for the bond market to digest and bonds dictate day to day changes in mortgage rates. The mornin...
Tue, Apr 30 2024, 3:47 PM
A mortgage rate is highly subjective and can vary for a variety of reasons. A news story that provides an outright level like 7.5% requires context a...
Mon, Apr 29 2024, 3:54 PM
Mortgage rates didn't change much at all over the weekend with the average lender still in the highest territory since November. The average conventi...
Fri, Apr 26 2024, 5:23 PM
As 2024 has progressed, economic data--especially inflation data--have made it increasingly clear that rates will not be coming down nearly as soon as...
Thu, Apr 25 2024, 3:50 PM
Interest rates care about quite a few different things, but inflation and Fed policy are two of the biggest considerations. One of the Fed's favorite...
Wed, Apr 24 2024, 4:10 PM
The average mortgage lender was able to offer conventional 30yr fixed rates that were very close to yesterday's levels despite bond market movement th...
Tue, Apr 23 2024, 4:12 PM
Mortgage rates are driven by day to day changes in the bond market. Bonds are focused on the Fed and the economic data that shapes Fed decisions. To...
Mon, Apr 22 2024, 4:01 PM
Mortgage rates began the new week at almost exactly the same levels seen at the end of last week. There were no major events or economic reports to c...
Fri, Apr 19 2024, 4:30 PM
The Fed expected to be able to cut rates 3 times in 2024 as recently as March. Financial markets agreed. But the data that's come out since then has e...
Thu, Apr 18 2024, 3:36 PM
Tuesday marked the highest mortgage rates since November, capping a mini surge that began after last week's inflation data. After a moderate improveme...
Wed, Apr 17 2024, 4:14 PM
Mortgage rates moved lower today after hitting the highest levels since mid November yesterday. Some lenders were down as much as an eighth of a perc...
Tue, Apr 16 2024, 4:56 PM
The bad times keep rolling for mortgage rates with the average conventional 30yr fixed rate back up to 7.5% according to our daily index. This is qui...
Mon, Apr 15 2024, 3:55 PM
In 2023, there were multiple examples of mortgage rates moving up by roughly half a percent in a relatively short amount of time (1-3 weeks). Since t...
Fri, Apr 12 2024, 4:54 PM
Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates. Thursday added a bit more insult to the inju...
Thu, Apr 11 2024, 4:14 PM
Wednesday's Consumer Price Index caused a brutally fast spike in mortgage rates. It wasn't notable for taking us to exceptionally high levels (Octobe...
Wed, Apr 10 2024, 4:23 PM
Mortgage rates surged at a pace seen only one other time since October 2022. The average lender moved up by 0.28%, which is functionally equivalent t...
Tue, Apr 9 2024, 4:27 PM
Mortgage rates roughly matched their highest levels in months yesterday, but managed to turn things around today. One could argue that the broader bo...
Mon, Apr 8 2024, 4:02 PM
Mortgage rates moved up somewhat abruptly today as the bond market lost more ground over the weekend. Rates are driven primarily by bonds, but mortga...
Fri, Apr 5 2024, 2:56 PM
Data dependent... That's a phrase that is all too prevalent in financial markets and among members of the Federal Reserve. It refers to the fact that...
Thu, Apr 4 2024, 3:59 PM
Mortgage rates may have been able to claim some resilience over the past few days, but it hasn't been a great week in general. The average lender jum...
Wed, Apr 3 2024, 3:34 PM
After starting the week with a sharp move higher, mortgage rates managed to avoid losing much ground yesterday. This was only achieved with a recover...
Tue, Apr 2 2024, 3:25 PM
After starting the week with a fairly large jump, mortgage rates had a much calmer day on Tuesday. This was made all the more impressive by the fact ...
Mon, Apr 1 2024, 3:27 PM
March ended with a streak of some of the flattest day-over-day changes in mortgage rates on record. It was all but certain that the new week/month wo...
Thu, Mar 28 2024, 3:01 PM
Unfortunately, we don't have a great way to measure all of the past precedents, but it's safe to say that the this was one of the least volatile weeks...
Wed, Mar 27 2024, 3:44 PM
There are probably only a few 4-day streaks with effectively no movement in mortgage rates, and this is one of them. After falling to 6.91% last Frid...
Tue, Mar 26 2024, 3:44 PM
After moving back under 7% last week (conventional, 30yr fixed, top tier scenario), mortgage rates have been increasingly unlikely to move. Today was...
Mon, Mar 25 2024, 4:07 PM
Mortgage rates enjoyed a decently strong week last week, with the average top tier conventional 30yr fixed rate moving down to 6.91% by Friday from 7....
Fri, Mar 22 2024, 5:15 PM
As the broader market continued rubbing its eyes in disbelief over the Fed's exceptionally calm attitude on inflation, bonds continued to improve toda...
Thu, Mar 21 2024, 4:33 PM
It's Thursday and thus time once again to check in with Freddie Mac's weekly mortgage rate survey versus reality. To be fair, it's not that Freddie i...
Wed, Mar 20 2024, 4:25 PM
The rate market was intently focused on today's announcement from the Federal Reserve. While many news headlines emphasize the Fed "holding rates ste...
Tue, Mar 19 2024, 4:11 PM
Mortgage rates were roughly unchanged on Tuesday, capping a short but meaningful losing streak over the past 6 business days. During that time, the av...
Mon, Mar 18 2024, 3:50 PM
Rates marched higher to the highest levels in March today, but most lenders are only microscopically worse off than Friday afternoon. In the slightly...
Fri, Mar 15 2024, 4:49 PM
Back in late 2023, we got in the car with the Federal Reserve with the promise of a trip to our favorite place: the land of lower interest rates. In 2...
Thu, Mar 14 2024, 4:18 PM
Even though Tuesday's consumer-oriented inflation report (CPI) had the biggest potential to cause drama for rates, it was today's wholesale inflation ...
Wed, Mar 13 2024, 4:11 PM
Mortgage rates are nowhere near their highs from a few short weeks ago, let alone the much higher highs from late 2023, but they are at the highest le...
Tue, Mar 12 2024, 3:50 PM
Today brought the release of one of the most consequential economic reports that comes out on any given month: the Consumer Price Index (CPI). CPI me...
Mon, Mar 11 2024, 4:03 PM
Mortgage rates hit their best levels in more than a month by the end of last week after moving lower for 4 straight days. If you could only know one ...
Fri, Mar 8 2024, 4:08 PM
It was a hotly anticipated week for interest rates due to the arrival of the first batch of big ticket economic data since the Inflation report that c...
Thu, Mar 7 2024, 3:21 PM
Since hitting 2 month highs last Tuesday, mortgage rates have mostly moved lower. The past 3 days have all seen solid improvements in response to eco...
Wed, Mar 6 2024, 3:37 PM
Conventional 30yr fixed mortgage rates in the high 6 percent range have been available months now, and that didn't change in the past few weeks when r...
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