Daily Mortgage Rate Commentary Archive

Fri, 7:11 PM

Mortgage Rates Continue Higher For 2nd Straight Day - Fri, 7:11 PM

Mortgage rates have had a great month of May so far with almost every day being a winner up until yesterday and today. Even then, the 2 day losing streak began from the lowest levels in ju...

Thu, 8:18 PM

Mortgage Rates Start Sideways But Move Higher in The Afternoon - Thu, 8:18 PM

On the average day in the mortgage market, the average lender will offer the same mortgage rate terms for the entire day. It's only when the underlying bond market moves enough that lenders...

Wed, 6:28 PM

Mortgage Rates Back Under 7% After Inflation Data - Wed, 6:28 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 is why. The Consumer Price Index (CPI) ...

Tue, 8:31 PM

Another "Nice" Day For Rates, But Tomorrow is The Real Story - Tue, 8:31 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 consumer-focused inflation indices ...

Mon, 8:24 PM

Mortgage Rates Inch to New 1-Month Lows - Mon, 8:24 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 distinction, but it technically hadn't...

Fri, May 10, 8:24 PM

The Upcoming Week Will Be Significantly More Volatile - Fri, May 10, 8:24 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, but this time is an exception. While we can'...

Thu, May 9, 8:45 PM

Mortgage Rates Technically at Lowest Levels in a Month - Thu, May 9, 8:45 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 that achievement look a bit less lofty. ...

Wed, May 8, 8:47 PM

Mortgage Rate Winning Streak Ends Gently - Wed, May 8, 8:47 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 achieved two other times this year. Wh...

Tue, May 7, 7:58 PM

Mortgage Rates Just a Bit Lower as Winning Streak Hits 5 Days - Tue, May 7, 7:58 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 30yr fixed rate has fallen by more than 0.25%....

Mon, May 6, 8:16 PM

Mortgage Rates Modestly Lower to Start The New Week - Mon, May 6, 8:16 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 day before the most recent Consumer ...

Fri, May 3, 9:14 PM

Rates End Week at Lowest levels since April 9th - Fri, May 3, 9:14 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 reports that caused rate volatility. Thankfully,...

Thu, May 2, 8:28 PM

Mortgage Rates Sneak to 2 Week Lows With Important Data on Deck - Thu, May 2, 8:28 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't cut rates, and while they're increa...

Wed, May 1, 8:08 PM

Mortgage Rates Move Lower After Fed Announcement - Wed, May 1, 8:08 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 morning's data was perfectly palatable, resu...

Tue, April 30, 7:47 PM

Mortgage Rates Back Up And Over 7.5% - Tue, April 30, 7:47 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 and qualification. Some online adve...

Mon, April 29, 7:54 PM

Mortgage Rates Sideways to Slightly Lower to Start New Week - Mon, April 29, 7:54 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 conventional 30yr fixed rate is just under 7.5%...

Fri, April 26, 9:23 PM

Mortgage Rates Recover Some of Thursday's Weakness After Friday's Economic Data - Fri, April 26, 9:23 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 the Fed (and the market) expected. Rates&n...

Thu, April 25, 7:50 PM

Mortgage Rates Jump Up And Over 7.5% After Inflation Surprise - Thu, April 25, 7:50 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 ways to track progress on inflation is...

Wed, April 24, 8:10 PM

Mortgage Rates Pleasantly Stable Despite Some Bond Market Weakness - Wed, April 24, 8:10 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 that suggested a bigger spike. In a vast ...

Tue, April 23, 8:12 PM

Mortgage Rates Lowest in a Week - Tue, April 23, 8:12 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. Today's data isn't necessarily big o...

Mon, April 22, 8:01 PM

Mortgage Rates Essentially Flat Just Under 5 Month Highs - Mon, April 22, 8:01 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 cause volatility in the underlying bond ...

Fri, April 19, 8:30 PM

The Case of The Disappearing Rate Cuts - Fri, April 19, 8:30 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 everyone singing a different tune. This ...

Thu, April 18, 7:36 PM

Mortgage Rates Higher Today, But Not Quite as High as Tuesday - Thu, April 18, 7:36 PM

Tuesday marked the highest mortgage rates since November, capping a mini surge that began after last week's inflation data. After a moderate improvement yesterday, rates moved back up toward (b...

Wed, April 17, 8:14 PM

Mortgage Rates Finally Win One - Wed, April 17, 8:14 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 percent, which is on the bigger side for a ...

Tue, April 16, 8:56 PM

Mortgage Rates Back to 7.5% - Tue, April 16, 8:56 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 quite a bit higher than the major weekly ...

Mon, April 15, 7:55 PM

After Months of Relative Calm, Rates are Starting to Look Panicked Again - Mon, April 15, 7:55 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 the big shift in November, we've only s...

Fri, April 12, 8:54 PM

Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So - Fri, April 12, 8:54 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 injury. The resulting levels were th...

Thu, April 11, 8:14 PM

Mortgage Rates Are Actually The Highest Since Mid November - Thu, April 11, 8:14 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 (October 2023 was much higher), but it was on...

Wed, April 10, 8:23 PM

Basically The Worst Day For Mortgage Rates Since October 2022 - Wed, April 10, 8:23 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 to the 0.29% seen after the February 2nd...

Tue, April 9, 8:27 PM

Decent Recovery For Mortgage Rates, But Huge Volatility Potential Ahead - Tue, April 9, 8:27 PM

Mortgage rates roughly matched their highest levels in months yesterday, but managed to turn things around today. One could argue that the broader bond market (which dictates rates) began ...

Mon, April 8, 8:02 PM

Mortgage Rates Near Highest Levels Since February - Mon, April 8, 8:02 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 mortgage lenders tend to only update rates on...

Fri, April 5, 6:56 PM

Mortgage Rates Surprisingly Steady Despite Strong Jobs Report - Fri, April 5, 6:56 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 economic data will guide the future pat...

Thu, April 4, 7:59 PM

Nice Move Lower in Mortgage Rates Ahead, But Tomorrow is a New Day - Thu, April 4, 7:59 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 jumped quickly over 7% for a top tier conv...

Wed, April 3, 7:34 PM

Mortgage Rates Nearly Unchanged Despite Early Drama - Wed, April 3, 7:34 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 recovery in the bond market that erased early...

Tue, April 2, 7:25 PM

Mortgage Rates Much Calmer Today - Tue, April 2, 7:25 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 that the underlying bond market sugges...

Mon, April 1, 7:27 PM

Mortgage Rates Sharply Higher to Start The Month - Mon, April 1, 7:27 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 would bring a change to that sideways tr...

Thu, March 28, 7:01 PM

Near Record Setting Week For Boredom Among Mortgage Rate Watchers - Thu, March 28, 7:01 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 in the history of mortgage rates . Ou...

Wed, March 27, 7:44 PM

Super Steady Streak Sustained - Wed, March 27, 7:44 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 Friday, the MND rate index hasn't moved mo...

Tue, March 26, 7:44 PM

Mortgage Rates Barely Budge For 2nd Straight Day - Tue, March 26, 7:44 PM

After moving back under 7% last week (conventional, 30yr fixed, top tier scenario), mortgage rates have been increasingly unlikely to move. Today was the 2nd day in a row with essentially...

Mon, March 25, 8:07 PM

Mortgage Rates Basically Unchanged Over The Weekend - Mon, March 25, 8:07 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 7.09% on the previous Friday. To put tod...

Fri, March 22, 9:15 PM

Mortgage Rates Now Lowest in Nearly 2 Weeks - Fri, March 22, 9:15 PM

As the broader market continued rubbing its eyes in disbelief over the Fed's exceptionally calm attitude on inflation, bonds continued to improve today. Stronger bonds mean lower rates.&nbs...

Thu, March 21, 8:33 PM

Mortgage Rates Are Actually LOWER This Week - Thu, March 21, 8:33 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 isn't participating in reality. It'...

Wed, March 20, 8:25 PM

Fed "Held Rates Steady," But Mortgage Rates Improved - Wed, March 20, 8:25 PM

The rate market was intently focused on today's announcement from the Federal Reserve. While many news headlines emphasize the Fed "holding rates steady," but that's not what the bond marke...

Tue, March 19, 8:11 PM

What Will The Fed Do To Mortgage Rates on Wednesday? - Tue, March 19, 8:11 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 average 30yr fixed rate move back into the low...

Mon, March 18, 7:50 PM

Mortgage Rates Inch to March Highs - Mon, March 18, 7:50 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 bigger picture rates have moved up roug...

Fri, March 15, 8:49 PM

On The Road To Rate Cuts, Markets Asking "Are We There Yet?" (Spoiler Alert: No) - Fri, March 15, 8:49 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 2024, we keep asking "are we there yet?" The...

Thu, March 14, 8:18 PM

Mortgage Rates Back Above 7% - Thu, March 14, 8:18 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 report that did the most damage. The Produc...

Wed, March 13, 8:11 PM

Mortgage Rates Move Higher For 3rd Straight Day - Wed, March 13, 8:11 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 levels this week after rising for the past 3 d...

Tue, March 12, 7:50 PM

Mortgage Rates Rise After Inflation Data, But it Could Have Been Worse - Tue, March 12, 7:50 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 measures inflation and inflation is a big ...

Mon, March 11, 8:03 PM

Mortgage Rate Winning Streak Finally Pauses, But Just Barely - Mon, March 11, 8:03 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 thing about today, it's that although r...

Fri, March 8, 9:08 PM

Lowest Rates in Over a Month. Upcoming Inflation Data Casts a Critical Vote - Fri, March 8, 9:08 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 came out on February 13th. This week's data ...

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