Tue, Mar 5 2024, 3:51 PM
Mortgage rates are driven by movement in the bond market. Bonds can move for several reasons at any given moment, but a key consideration these days ...
Mon, Mar 4 2024, 4:33 PM
Mortgage rates were at the best levels in 2 weeks as of last Friday and today's offerings are only modestly higher. One counterpoint is that it didn'...
Fri, Mar 1 2024, 3:24 PM
The average lender was offering slightly higher rates this morning when compared to yesterdays latest levels, but things began to change after 10am ET...
Thu, Feb 29 2024, 4:05 PM
In the bigger picture, mortgage rates would still be best described as "trending gently higher," but in the shorter term, today was a victory. The av...
Wed, Feb 28 2024, 3:50 PM
Despite the release of economic data that sounds like it should matter to markets (mainly "GDP"), the bonds that drive interest rates had a remarkably...
Tue, Feb 27 2024, 2:50 PM
One of the downsides of rates being very close to the highest levels in months is that it doesn't take much of nudge to hit new highs. That was ALMOS...
Mon, Feb 26 2024, 3:56 PM
Mortgage rates moved moderately higher to begin the new week, but they remained just under the highest recent levels seen last Thursday. Many lenders...
Fri, Feb 23 2024, 3:31 PM
One of the upsides of these weeks with boring, sideways movement in the rate market is that it doesn't take much of an improvement to undo several day...
Thu, Feb 22 2024, 2:44 PM
Mortgage rates continue making nearly microscopic movements in day-over-day terms, but they continue adding up. Today's increase over yesterday was n...
Wed, Feb 21 2024, 4:20 PM
In the short term, mortgage rates haven't experienced any extreme movement since earlier in the month, but a slow trickle of weakness is starting to a...
Tue, Feb 20 2024, 4:18 PM
Most mortgage lenders set rates for the first time this week on Tuesday (today) due to yesterday's holiday. Federal holidays mean banks are closed wh...
Fri, Feb 16 2024, 5:17 PM
At present, the Consumer Price Index (CPI) and the jobs report are the two most important considerations for interest rate momentum as far as economic...
Thu, Feb 15 2024, 4:21 PM
While weekly mortgage rate indices are pointing out the sharp jump from last Wednesday's levels, daily rates have fallen twice in a row. The peak was...
Wed, Feb 14 2024, 5:23 PM
As is often the case, there are a few ways to look at rates at the moment. In the medium term, we can still take heart in the fact that rates are abo...
Tue, Feb 13 2024, 3:55 PM
If it feels like there's been an inordinate amount of focus on the Consumer Price Index (CPI) recently, today proved it was justified. It's not hard ...
Mon, Feb 12 2024, 3:16 PM
After spiking to the highest levels in over a month last Monday, rates have held eerily steady. To be fair, the steadiness started the following day ...
Fri, Feb 9 2024, 5:19 PM
Near the end of last week, the title of the daily mortgage rate article was "Rates Right in Line With Long-Term Lows, But That Could Change on Friday....
Thu, Feb 8 2024, 1:22 PM
Mortgage rates were technically a hair higher today when compared with yesterday's latest offerings, but it's just as fair to say they've been unchang...
Wed, Feb 7 2024, 5:09 PM
Mortgage rates are based on trading in the bond market. As we saw last week, trading in the bond market can often be very exciting, even if that exci...
Tue, Feb 6 2024, 4:09 PM
The past two business days (Friday and Monday) accounted for the 3rd largest increase in mortgage rates since March 2020. Friday, specifically, was t...
Mon, Feb 5 2024, 3:40 PM
Last Friday was the worst day for mortgage rates in over a year in terms of day-over-day movement (October 19th, 2023 remains the worst day in decades...
Fri, Feb 2 2024, 4:13 PM
Mortgage rates were crushed by today's jobs report. Nonfarm payrolls (the main component of the report), came in significantly higher than expected...
Thu, Feb 1 2024, 4:10 PM
"Long-term" is a subjective measurement, but in this case, it refers to the the past 7 or 8 months. Today's mortgage rates dropped to levels that--un...
Wed, Jan 31 2024, 5:24 PM
This is a challenging day to attempt to understand the relationship between events and rate movement. At the most superficial level, rates are much l...
Tue, Jan 30 2024, 4:22 PM
Mortgage rates inched gently lower yet again today. That's the 4th day in a row without moving higher, but it's just as fair to say rates have been b...
Mon, Jan 29 2024, 4:42 PM
Mortgage rates are in the midst of a bit of a winning streak, but it's about as small and as neutral as winning streaks get. Today was the third day ...
Fri, Jan 26 2024, 4:12 PM
Over the past 2 months, speculation ramped up quickly regarding the pace and magnitude of Fed rate cuts in 2024. Next week brings the first Fed meetin...
Thu, Jan 25 2024, 2:45 PM
The average top tier conventional 30yr fixed rate hit its highest level in exactly 6 weeks yesterday. Today's movement was in the opposite direction....
Wed, Jan 24 2024, 4:20 PM
Today's mortgage rate recap is remarkably similar to yesterday's. Rates rose modestly from levels that were already near recent highs, thus technical...
Tue, Jan 23 2024, 4:49 PM
Remarkably little happened in the bond market today. That means that mortgage lenders shouldn't have any obvious motivations to make big changes to t...
Mon, Jan 22 2024, 5:13 PM
The bond market (which dictates interest rates) hasn't had too many Mondays so far in January due to the holiday calendar. Today's example might have...
Fri, Jan 19 2024, 4:55 PM
So far, 2024 has been distinctly different from the end of 2023. November and December saw rates move lower at one of the fastest paces in decades. In...
Thu, Jan 18 2024, 3:20 PM
It's Thursday during an era of interest rate volatility. As such, there's a decent chance that we'll find a discrepancy between Freddie Mac's weekly ...
Wed, Jan 17 2024, 4:58 PM
Rates have been gradually rising across the board in the past few weeks and mortgage rates are no exception. Yesterday, it was the market responding ...
Tue, Jan 16 2024, 3:36 PM
The last few weeks have seen mortgage rates move in a far narrower range compared to the month and a half leading up to December 14th. That said, the...
Fri, Jan 12 2024, 4:50 PM
The much-anticipated Consumer Price Index (CPI) was released this week. For those seeking evidence that inflation will soon be back at the Fed's targe...
Thu, Jan 11 2024, 4:39 PM
Mortgage rates are based on bonds. Bonds react more to two monthly economic reports than any others. One of these is the jobs report which came out ...
Wed, Jan 10 2024, 3:42 PM
The first thing to understand about mortgage rates over the past 3-4 weeks is that they haven't been moving nearly as quickly as the preceding months....
Tue, Jan 9 2024, 4:36 PM
While the average 30yr fixed mortgage rate is still more than 1% below the long-term highs seen in October, it has been rising slowly and steadily in ...
Mon, Jan 8 2024, 5:04 PM
Last week saw several key economic events attempt to exert some influence on interest rate momentum without any obvious winner. Rates ended the week ...
Fri, Jan 5 2024, 5:19 PM
The big jobs report on the first Friday of any given month can be big business for interest rate volatility. Today's example was no exception, but le...
Thu, Jan 4 2024, 3:25 PM
Wednesday saw mortgage rates recover toward the lower recent levels in response to economic data that wasn't as upbeat as recent examples. That's imp...
Wed, Jan 3 2024, 4:08 PM
As of this morning, it looked like the theme for mortgage rates in 2024 would be up, up, and away--at least as far as the first two business days were...
Tue, Jan 2 2024, 5:07 PM
Mortgage rates kicked off the new year by jumping to the highest levels since December 13th. That's not too remarkable considering rates were also at...
Fri, Dec 29 2023, 3:10 PM
Looking back at October when 30yr fixed mortgage rates were over 8%, a return to the roughly unchanged levels by the end of the year may have seemed l...
Thu, Dec 28 2023, 4:17 PM
Yesterday was the most interesting day of the past 2 weeks, but that's not saying much. The past 2 weeks have been the calmest for mortgage rates in ...
Wed, Dec 27 2023, 4:10 PM
The most notable accomplishment for mortgage rates today was the fact that they moved by a normal amount compared to the previous day. That's the fir...
Tue, Dec 26 2023, 3:38 PM
After dropping precipitously from over 8% in late October to well under 7% by December 14th, mortgage rates have been stone silent. In the 7 business...
Fri, Dec 22 2023, 3:22 PM
The astonishing pace of the recent drop in interest rates has raised some questions regarding sustainability and justification, but we can clear them ...
Thu, Dec 21 2023, 3:52 PM
I like to write at least a small amount every day to recap mortgage rate movement. After all, they change every day by at least some small amount and...
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