Wed, Dec 20 2023, 4:24 PM
We made the mistake of referring to mortgage rates as being "sharply sideways" yesterday--a description that's only dusted off for the most uneventful...
Tue, Dec 19 2023, 3:56 PM
When is interest rate momentum flatter than you can possibly imagine? Today. We only break out the sarcastic and paradoxical juxtaposition of "sharp...
Mon, Dec 18 2023, 4:08 PM
As of last Thursday, the average top tier 30yr fixed mortgage rate was a few days away from being able to claim an official "7 month low," and that's ...
Fri, Dec 15 2023, 3:38 PM
Survey-based rate indices haven't yet had time to account for the massive drop in mortgage rates this week, but rest assured, it was special. That's ...
Thu, Dec 14 2023, 3:57 PM
Today's headline speaks for itself: one of the biggest 2-day drops in rates in decades. Simply put, over the past 48 hours, mortgage rates have moved...
Wed, Dec 13 2023, 5:03 PM
Today brought the scheduled Fed policy announcement that we've been waiting for and mortgage rates plummeted as a result. So does that mean the Fed c...
Tue, Dec 12 2023, 4:27 PM
When it comes to interest rates reacting to scheduled economic reports, the magnitude of the reaction is generally correlated with the extent to which...
Mon, Dec 11 2023, 3:45 PM
Mortgage rates are based on bonds and the bond market is coming off an important and largely successful week. It was important because it was the fir...
Fri, Dec 8 2023, 4:35 PM
Heading into this week (and even throughout the entirety of last week) we were mostly focused on seeing today's jobs report for the next big dose of i...
Thu, Dec 7 2023, 4:59 PM
If you're reading this on Thursday, December 7th, it is the day before the big jobs report--the one that has all the potential in the world to cause h...
Wed, Dec 6 2023, 4:47 PM
Mortgage rates are hitting lower milestones like it's their nine to five recently and today was just another day at the office. The average lender wa...
Tue, Dec 5 2023, 4:26 PM
Right from the start and with only a few days that didn't fit the narrative, November was a stellar month for mortgage rates, and December is picking ...
Mon, Dec 4 2023, 3:29 PM
Apart from this past Friday, you'd have to go back to September 1st to see lower mortgage rates than today. It probably makes the best sense to view ...
Fri, Dec 1 2023, 5:05 PM
Just yesterday, we were nodding in agreement and acceptance of the fact that rates were better served by cooling off a bit (read: "rising") after impr...
Thu, Nov 30 2023, 3:08 PM
If you count the Friday after Thanksgiving as a business day, mortgage rates had fallen for 6 straight days as of yesterday afternoon. Moreover, they...
Wed, Nov 29 2023, 5:03 PM
There were no major economic reports or news headlines in play today. Movement in the bond market (which underlies mortgage rate changes) was orderly...
Tue, Nov 28 2023, 3:52 PM
The trend in rates has been very linear in the 2nd half of the month and the day-to-day changes have been getting smaller and smaller. On 5 of the las...
Mon, Nov 27 2023, 3:23 PM
Thanksgiving week is always an interesting (and frequently frustrating) time for the bond market that underlies day to day interest rate changes. Mar...
Wed, Nov 22 2023, 3:45 PM
"Lower volatility and more sideways momentum" have been the themes as we've moved away from last week's more consequential economic data. The underly...
Tue, Nov 21 2023, 3:26 PM
The bond market that underlies mortgage rates has had several decent days in a row with trading levels in excellent territory relative to the past two...
Mon, Nov 20 2023, 3:11 PM
Mortgage rates moved down to the lowest levels in roughly 2 months last week. To be fair, they had already hit similar levels earlier in the month af...
Fri, Nov 17 2023, 4:09 PM
The average mortgage lender was fairly close to their lowest levels of the past 2 months by yesterday afternoon and today saw almost no change. That'...
Thu, Nov 16 2023, 3:27 PM
After a fantastic day on Tuesday and frustrating little bounce after yesterday's Retail Sales data, mortgage rates have fully recovered back to the re...
Wed, Nov 15 2023, 4:06 PM
The story of the week for mortgage rates continues to be the substantial drop seen on Tuesday in response to the Consumer Price Index (CPI). But that ...
Tue, Nov 14 2023, 3:45 PM
November 3rd's jobs report brought an outstanding week for Treasuries and mortgage rates to an outstanding conclusion. From there, the following week...
Mon, Nov 13 2023, 4:43 PM
Mortgage rates began the day at the highest levels in nearly 2 weeks. The underlying bond market had been losing ground steadily since last Thursday ...
Fri, Nov 10 2023, 4:21 PM
While it's possible to accuse mortgage rates of experiencing volatility over the past few days, this week was exceptionally calm compared to last week...
Thu, Nov 9 2023, 4:48 PM
It was a great run for mortgage rates over the last 2 weeks with a sharp decline last week followed by very respectable ground-holding in the present ...
Wed, Nov 8 2023, 4:50 PM
There have been more than a few days in the recent past with absolutely massive day-over-day swings in mortgage rates. In fact, on each of the first ...
Tue, Nov 7 2023, 5:17 PM
After one of the best 3-day winning streaks in decades last week, mortgage rates jumped a bit to start the new week. That jump turned out to be a tem...
Mon, Nov 6 2023, 4:52 PM
In and of itself, today would rank among the handful of "worst days" of any given year in term of mortgage rate movement. In other words, comparing t...
Fri, Nov 3 2023, 1:11 PM
The average top tier 30yr fixed mortgage rate was over 8% as recently as October 19th. At the start of the present week, things weren't much better a...
Thu, Nov 2 2023, 3:59 PM
The stratification of rate offerings between lenders is very high due to rapid changes over the past few days and weeks. On average, top tier convent...
Wed, Nov 1 2023, 5:14 PM
Today was "Fed day" and mortgage rates fell quite a bit. So it must have been due to the Fed announcement, right? Not exactly... The Fed helped, ...
Tue, Oct 31 2023, 3:21 PM
Coming into the current week, we expected to see a fair amount of volatility. Last week was volatile in its own right, but in a broadly sideways traj...
Mon, Oct 30 2023, 3:24 PM
Mortgage rates barely budged today. The average lender was just a hair higher compared to Friday's top tier conventional 30yr fixed rate offerings. I...
Fri, Oct 27 2023, 5:32 PM
Mortgage rates managed to have a nice, boring Friday with minimal movement. That's a victory considering yesterday saw a decent move lower, but victo...
Thu, Oct 26 2023, 4:48 PM
Mortgage rates have been bouncing around by leaps and bounds in a wide, sideways range over the past 2 weeks. The upper boundary of that range happen...
Wed, Oct 25 2023, 3:12 PM
Just when it looked like something new and different might be happening in the mortgage rate world, the market is quickly back to its old ways. Aft...
Tue, Oct 24 2023, 4:35 PM
Mortgage rates didn't move much today, but the movement was in a friendly direction at least. The caveat is that this pertains to the average lender....
Mon, Oct 23 2023, 4:51 PM
Mortgage rates began the day in higher territory due to overnight weakness in the bond market. Bonds (like US Treasuries or the MBS that determine mo...
Fri, Oct 20 2023, 4:21 PM
Mortgage rates finally broke the 8% ceiling this week after months of gradual upward movement in the 7% range. At the same time, Existing Home Sales f...
Thu, Oct 19 2023, 4:46 PM
There have been some more abrupt rate spikes in the recent past--days where the average mortgage rate has risen by more than an eighth of a percent (t...
Wed, Oct 18 2023, 4:54 PM
Our rate index has rapidly grown in popularity and exposure in recent years because it is timely and because it accounts for upfront costs in a way th...
Tue, Oct 17 2023, 4:22 PM
Inflation and economic growth... Regardless of our thoughts on the underlying reasons, these two factors have played a key role in skyrocketing rates...
Mon, Oct 16 2023, 4:22 PM
Last week was mostly good for mortgage rates, even if the goodness was made possible in large part by the badness of the previous week. By Friday, ra...
Fri, Oct 13 2023, 7:26 PM
After hitting the highest levels in decades last week, mortgage rates dropped sharply at the beginning of this week. At first glance, this was a class...
Thu, Oct 12 2023, 4:23 PM
Mortgage rates have enjoyed 2 days of uncommonly big gains. Granted, they come at the expense of horrific events and an exceptionally high starting p...
Wed, Oct 11 2023, 4:45 PM
The holiday-shortened week began yesterday with a substantial decline in average mortgage rates. Caveats abound, however. They include things like t...
Tue, Oct 10 2023, 4:40 PM
The average mortgage lender is quoting a top tier 30yr fixed mortgage rate that is nearly a quarter of a percent lower than the same scenario last Fri...
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