Mon, Jul 24 2023, 5:05 PM
It was a fairly uneventful day for mortgage rates for the average lender--at least until the very end of the business day. Mortgage lenders prefer to...
Fri, Jul 21 2023, 4:09 PM
After rising somewhat sharply yesterday, mortgage rates managed to find their footing on Friday's market session. Bonds typically face more volatilit...
Thu, Jul 20 2023, 5:02 PM
Some of today's news says mortgage rates are much lower than last week. And here I am telling you they're higher. Who should you believe? Easy one! ...
Wed, Jul 19 2023, 5:24 PM
Mortgage rates may have spiked to the highest levels in roughly 8 months two weeks ago, but they fully recovered as of last Thursday. Since then, ver...
Mon, Jul 17 2023, 4:27 PM
Mortgage rates jumped a bit higher last Friday after dropping triumphantly during the first four days of the week. That bounce may have cast some dou...
Fri, Jul 14 2023, 3:51 PM
Mortgage rates spiked abruptly last week after several economic reports showed the economy doing better than expected. Now this week, key inflation da...
Thu, Jul 13 2023, 5:13 PM
Farther vs further... One is for distance and the other means "additional/additionally." The dictionary may disagree, but only because too many of y...
Wed, Jul 12 2023, 3:47 PM
Mortgage rates had been moving higher fairly rapidly over the past 2 weeks with the average lender easily into the 7% range for a top tier conventiona...
Tue, Jul 11 2023, 3:47 PM
While experts might be able to debate the underlying causes, they can all agree that inflation is the key reason that rates skyrocketed at the fastest...
Mon, Jul 10 2023, 4:10 PM
The most important thing to know about mortgage rates so far this week is that they lived through last week. Living through last week means rates rea...
Fri, Jul 7 2023, 6:10 PM
Until a few weeks ago, it looked like we might have seen the last of 7% mortgage rates, but the last 2 weeks have been brutal. The culprit has been a ...
Thu, Jul 6 2023, 4:51 PM
It seems like just last week (because it was) we were commenting on the extreme LACK of volatility in the mortgage rate landscape. Starting last Thur...
Wed, Jul 5 2023, 3:59 PM
While the mainstream mortgage rate indices continue operating in the mid-to-upper 6% range, actual rates are moving higher into the 7% range by the ti...
Thu, Jun 29 2023, 4:50 PM
Despite other indices showing the average 30yr fixed rate in the 6.7 range, the actual average (after accounting for points) is once again over 7%. W...
Wed, Jun 28 2023, 4:25 PM
The bond market is waiting for bigger news on inflation and the economy, and traders aren't pretending otherwise. Why does that matter? Traders dete...
Tue, Jun 27 2023, 5:25 PM
Tuesday continued the same theme of incredibly modest movement inside an incredibly narrow range. The average lender is still just under 7% for a con...
Mon, Jun 26 2023, 4:03 PM
The average 30yr fixed mortgage rate has been holding just under 7% for the entire month, making June the least volatile month in well over a year. A...
Fri, Jun 23 2023, 5:17 PM
A majority of the housing market data on any given month tends to come out mostly on the same week. This was that week and the takeaway was that the h...
Thu, Jun 22 2023, 4:35 PM
One important disclaimer right upfront: there's no real need to concern yourself with recent day-to-day movement in mortgage rates if your goal is to ...
Wed, Jun 21 2023, 3:43 PM
Any discussion about mortgage rates rising or falling in the month of June requires the caveat about the trend being exceptionally flat in the bigger ...
Tue, Jun 20 2023, 4:31 PM
Mortgage rates are primarily driven by changes in the value of certain bonds that trade on the open market. Those bonds (mortgage-backed securities o...
Fri, Jun 16 2023, 6:34 PM
Rates may not be as high as they were several months ago or as low as they were 5 weeks ago, but they're close enough to either boundary that the thre...
Thu, Jun 15 2023, 3:26 PM
Not to be confused with the big monthly jobs report (the one that includes a count of "nonfarm payrolls" as well as the official unemployment rate in ...
Wed, Jun 14 2023, 4:55 PM
As was widely expected, the Federal Reserve held rates steady today. Mortgage rates were also generally steady, but the two have little to do with on...
Tue, Jun 13 2023, 4:10 PM
Tuesday brought an unfriendly paradoxical reaction for rates. Don't worry. We can shift gears to words that make more sense now. Rates began the ...
Mon, Jun 12 2023, 3:59 PM
Mortgage rates drifted slightly higher this morning with the average lender moving up to the highest levels in nearly 2 weeks. Top tier 30yr fixed sc...
Fri, Jun 9 2023, 4:20 PM
In a surprising turn of events, this week's biggest market mover for interest rates was a policy announcement by the Bank of Canada (BOC). The event w...
Thu, Jun 8 2023, 4:19 PM
Economic data is one of the most basic and reliable inputs for the bond market. The bond market, in turn, dictates day to day interest rate movement....
Wed, Jun 7 2023, 4:03 PM
Mortgage rates continue to operate in a fairly narrow range but we've been mostly moving in one direction inside that range so far this month. Late l...
Tue, Jun 6 2023, 3:42 PM
By Friday, there's a distinct possibility that you'll be tired of hearing different versions of the same story. The plot: last Friday's jobs report p...
Mon, Jun 5 2023, 4:56 PM
Mortgage rates held fairly steady over the weekend. That wasn't necessarily destined to be the case as the underlying bond market suggested another m...
Fri, Jun 2 2023, 6:40 PM
After dominating the news cycle for weeks, the debt ceiling issue is suddenly resolved and the bond market doesn't seem to care. The jobs report prove...
Wed, May 31 2023, 4:43 PM
After hitting the highest levels in several months last Friday, mortgage rates have fallen fairly quickly in the new week. As bond markets improved t...
Tue, May 30 2023, 4:19 PM
The past 2 weeks were fairly rough for fans of low mortgage rates. The average lender moved higher at the fastest pace since February over that time....
Fri, May 26 2023, 3:45 PM
It was nearly impossible to avoid news regarding the debt ceiling this week, but how much does it actually matter? Let's make sure we're on the same ...
Thu, May 25 2023, 4:34 PM
It was bad news but big news a few days ago when the average top tier 30yr fixed rate made it back to 7% for the first time since early March. After ...
Wed, May 24 2023, 4:43 PM
Wednesday was a fairly volatile day for mortgage rates. The movement wasn't extreme, but there were a few lead changes. The day began with the avera...
Tue, May 23 2023, 4:58 PM
Today's headline is the most dramatic part of today's story on mortgage rates. The average top tier 30yr fixed rate has been mostly operating in a 6-...
Mon, May 22 2023, 4:36 PM
There are some broad rate surveys/indices that show 30yr fixed mortgage rates under 6.5% or close to it, but it's a bit of a mystery as to how such a ...
Fri, May 19 2023, 4:24 PM
The debt ceiling debate is all over the news, but it's a different ceiling is commanding more of the bond market's attention. Still, we wouldn't say ...
Thu, May 18 2023, 3:20 PM
It may not be a death by a thousand cuts, but mortgage rates are suffering a bit of blood loss from roughly 5 cuts. Specifically, the past 5 days hav...
Wed, May 17 2023, 3:36 PM
Mortgage rates have been moving higher since late last week, ultimately hitting the highest levels in just over 2 weeks yesterday, but that trend ende...
Tue, May 16 2023, 3:35 PM
Mortgage rates didn't change much today. The average lender was only a hair higher than yesterday afternoon. But that was enough for today's rates t...
Mon, May 15 2023, 4:14 PM
For those who only want to be woken up when mortgage rates make a big move down into the 5% range or back up and over 7%, you're free to go. The most...
Fri, May 12 2023, 7:33 PM
Scroll down far enough on the list of Webster's definitions of the word "consolidate," and you'll find "to form together into a compact mass." Financ...
Thu, May 11 2023, 4:59 PM
Mortgage rates inched lower again on Thursday as economic reports came out slightly weaker and bank sector concerns remain in the spotlight. Such thi...
Wed, May 10 2023, 5:02 PM
Today marked the release of the most recent monthly installment of the Consumer Price Index (CPI)--the most closely followed inflation report and one ...
Tue, May 9 2023, 4:27 PM
Mortgage rates rose at their fastest pace in decades in 2022 and if only one thing could take the blame, it would be inflation. There are several way...
Mon, May 8 2023, 3:31 PM
Mortgage rates moved noticeably higher to start the new week--high enough that you'd have to go back to last Monday to see anything higher. That's th...
Fri, May 5 2023, 4:39 PM
The first week of any given month tends to have the highest concentration of economic data with the power to influence the bond market, and thus inter...
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