Fri, Oct 6 2023, 7:06 PM
Rates were already high coming into this week. As of last Friday, that meant an average 30yr fixed rate just under 7.5%. As of this Friday, we're clos...
Thu, Oct 5 2023, 3:33 PM
For the first time in nearly a month, the bond market (which dictates day to day mortgage rate movement) managed to string together two winning days i...
Wed, Oct 4 2023, 4:25 PM
Mortgage rates began the day at new multi-decade highs, but only by a small margin over yesterday. This was counterintuitive at first glance because ...
Tue, Oct 3 2023, 3:27 PM
Mortgage rates were already close to the highest levels in more than 20 years yesterday--an unpleasant milestone that was easily surpassed after today...
Mon, Oct 2 2023, 4:39 PM
The average didn't quite make it back to the multidecade highs seen last week, but the average borrower would see little--if any--difference in today'...
Fri, Sep 29 2023, 5:57 PM
It depends quite a bit on the lender in question, but at some point between yesterday morning and this morning, the average lender dropped rates at th...
Thu, Sep 28 2023, 3:28 PM
The past few days have seen rates surge to new multi-decade highs with the average lender quoting 7.6+ for top tier conventional 30yr fixed scenarios....
Wed, Sep 27 2023, 5:10 PM
It's with no great pleasure (none of any kind, for that matter) that we find ourselves in a position to report, yet again, that mortgage rates have sa...
Tue, Sep 26 2023, 4:28 PM
In terms of day-over-day changes, today's mortgage rate movement was forgettable. The average borrower wouldn't see much of a difference from yesterd...
Mon, Sep 25 2023, 4:21 PM
The average lender was already very close to multi-decade highs for 30yr fixed mortgage rates last Thursday afternoon, but a modest recovery on Friday...
Fri, Sep 22 2023, 5:48 PM
Mortgage rates actually recovered a bit on Friday as the underlying bond market experienced a modest correction after spiking to the weakest levels in...
Thu, Sep 21 2023, 4:09 PM
Rates moved only moderately higher on Wednesday after the Fed rocked the bond market with its updated rate forecasts. To reiterate yesterday's analys...
Wed, Sep 20 2023, 4:50 PM
The Fed did not hike its policy rate today, but it did release updated forecasts that showed the average Fed member expects rates to be half a percent...
Tue, Sep 19 2023, 4:51 PM
The FOMC (Federal Reserve's Open Market Committee) is what most people are referring to when they say "the Fed." This is the group that meets 8 times ...
Mon, Sep 18 2023, 4:11 PM
Mortgage rates began the day in slightly higher territory, but recovered after lenders offered mid-day price improvements. These sorts of mid-day cha...
Fri, Sep 15 2023, 5:23 PM
In and of itself, today wasn't too bad for mortgage rates. Things got a bit worse, but the change from yesterday was average or slightly lower. Ther...
Thu, Sep 14 2023, 4:27 PM
Whatever is bad for the economy is typically good for interest rates. That's the grim irony for the mortgage market and it's the reason you might fin...
Wed, Sep 13 2023, 4:44 PM
Today's big to-do was the release of August's Consumer Price Index (CPI), a critical inflation report with the power to significantly influence rate m...
Tue, Sep 12 2023, 3:20 PM
Mortgage rates started the week slightly higher for the average lender, but still below last week's highs. Most of what was lost yesterday was gained...
Fri, Sep 8 2023, 6:55 PM
While it's impossible to predict the future when it comes to financial markets, it's usually possible to identify the events that have higher potentia...
Thu, Sep 7 2023, 4:00 PM
Mortgage rates haven't had a great week so far. Monday's bank holiday meant that mortgage lenders had to account for an extra day of movement in the ...
Wed, Sep 6 2023, 4:49 PM
If you're at all tuned in to economic and financial news, you've probably heard the the phrase "data dependent" more than a few times recently. It re...
Tue, Sep 5 2023, 5:00 PM
Mortgage rates are noticeably higher to start the new week for most lenders although some lenders increased their costs nearly as much on Friday. Bet...
Thu, Aug 31 2023, 4:36 PM
Today's mortgage rates remain at levels that are much higher than most of the past few decades, but refreshingly lower than most of the past 3 weeks. ...
Wed, Aug 30 2023, 4:25 PM
In the space of just 2-3 short days, mortgage rates have moved from multi-decade highs to the lowest levels in 3 weeks. The catch is that the last 3 ...
Tue, Aug 29 2023, 3:34 PM
The role of economic data in determining mortgage rate momentum is hard to overstate these days and today provided another solid example. This mornin...
Mon, Aug 28 2023, 3:43 PM
Mortgage rates hit fresh multi-decade highs last week with many lenders hitting the mid-7% range earlier in the week for top tier conventional 30yr fi...
Fri, Aug 25 2023, 4:55 PM
Heading into the day, the market held out the possibility of heightened volatility surrounding a speech from Fed Chair Powell at the annual Jackson H...
Thu, Aug 24 2023, 4:19 PM
Wednesday proved to be one of the 3 best days for mortgage rates in months. The catch? Those "great" days are most likely to be seen in the wake of a...
Wed, Aug 23 2023, 5:00 PM
Mortgage rates dropped at the fastest pace in weeks today, but that isn't saying much in and of itself considering rates have only moved lower 3 times...
Tue, Aug 22 2023, 4:43 PM
When it seems that we've only known pain in the mortgage rate world recently, the absence of pain is a welcome relief. Such was the case today with t...
Mon, Aug 21 2023, 3:42 PM
Interest rates are based on trading levels in the bond market. Bond traders began their day looking at significantly weaker levels (i.e. higher yield...
Fri, Aug 18 2023, 4:28 PM
At this point "high rates" are old news. We were already close to hitting the highest levels in more than 20 years last week, so it wasn't a huge surp...
Thu, Aug 17 2023, 3:06 PM
Readers of financial news outside the mortgage industry are accustomed to getting their mortgage rate updates on a weekly basis. This has only recent...
Wed, Aug 16 2023, 4:40 PM
If you could time travel back to October 20th, 2022, you'd find mortgage rates that are just a hair higher than today's at most lenders, but the diffe...
Tue, Aug 15 2023, 3:37 PM
Have you heard the one about higher mortgage rates? It's not a joke, sadly. It's just a thing that keeps happening. The week began with the average...
Mon, Aug 14 2023, 3:16 PM
We've had to use words like "effectively" or "nearly" in the past few weeks to refer to mortgage rates' proximity to the highest levels since November...
Fri, Aug 11 2023, 7:19 PM
This was supposed to be the week where a key inflation report would cast a vote on the fate of interest rate momentum. The vote was ostensibly friendl...
Thu, Aug 10 2023, 5:39 PM
OK, it may be a bit of stretch to consider today's jump a "surge" as it wasn't much bigger than some of the other increases seen in the past few weeks...
Wed, Aug 9 2023, 4:57 PM
Mortgage rates continued to move in a fairly narrow, sideways range on Wednesday--a trend that is very much in line with expectations from last Friday...
Tue, Aug 8 2023, 4:54 PM
Flash back to last Friday. The big jobs report came out and although it wasn't too far from forecasts, it was enough for the bond market to rally at ...
Mon, Aug 7 2023, 3:21 PM
Mortgage rates are starting out the new week at modestly higher levels compared to last Friday afternoon. The average change is very small. Many bor...
Fri, Aug 4 2023, 5:23 PM
In discussing mortgage rates near 23-year highs yesterday, we asked if there was any hope for relief and concluded that the only question was one of t...
Thu, Aug 3 2023, 4:19 PM
Interest rates of all types have been under immense pressure since the beginning of 2022. This resulted in the the highest mortgage rates in more tha...
Wed, Aug 2 2023, 4:27 PM
Mortgage rates moved higher again today as the underlying bond market digested stronger economic data and details of the U.S. Treasury's increased bor...
Tue, Aug 1 2023, 5:52 PM
For all intents and purposes, the average 30yr fixed rate at the average lender is as high as it's been since November 2022. The number itself as far...
Mon, Jul 31 2023, 3:54 PM
As the new week begins, mortgage rates are almost perfectly in line with those seen on Friday afternoon. Putting that in context, last Thursday and F...
Thu, Jul 27 2023, 4:17 PM
The Fed hiked its policy rate yesterday and now today, mortgage rates jumped quite a bit higher. While there are already headlines drawing a connecti...
Wed, Jul 26 2023, 4:41 PM
As we discussed yesterday, it was entirely possible that today would bring a rate hike from the Fed that coincided with mortgage rates moving LOWER. ...
Tue, Jul 25 2023, 4:37 PM
Mortgage rates moved moderately higher for the average lender at some point over the past 2 days. Some lenders bumped rates yesterday afternoon and t...
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