This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.
This week's most important economic data was the PCE price index which is the gold standard of big picture inflation measurement. For those hoping to see rates drop, it was important for PCE to c...
Mortgage rates continue moving in very small steps from day to day--something that's been the case since the Consumer Price Index (CPI) more than 2 weeks ago. Unfortunately, more of those ...
Mortgage rates technically moved up to the highest levels in 2 weeks today, but that sounds a bit more dramatic than it actually is. Rates have largely held inside a narrow range close to ...
Spats of volatility in the mortgage rate world seem to last only a matter of hours recently and to occur only a few times on any given month. The rest of the time is spent drifting mostly s...
Mortgage rates rose at a moderately quick pace on Friday, partially in response bond market weakness on Thursday afternoon that happened too late in the day for many lenders to update their offe...
While there was never much of a chance of mortgage rates moving above the levels seen at the beginning of last week, they were easily able to nab the dubious distinction of hitting this week's ...
Thursday's mark the release of Freddie Mac's weekly mortgage rate survey. It's the longest running and most widely cited measure of mortgage rates , but it's not always the most accurate w...
Despite an active calendar of events that had the potential to cause volatility, average mortgage rates managed to remain unchanged in the morning and to move slightly lower in the afternoon.&n...
When is a defeat not really a defeat? Mortgage rates have an idea. They're fresh off an incredibly rare 8 day winning streak that took the average 30yr fixed rate to the lowest leve...
We occasionally reference 5 day winning streaks for mortgage rates as the sort of uncommon occurrence that greatly increases the odds of at least a temporary pullback. Longer streaks do h...
Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year. Today brough the PRODUCER Price Index (PPI), and the message ...
Mortgage rates have been in a narrow range for more than a month now with the average top tier 30yr fixed rate staying within striking distance of the 7.0% mark for the entirety. The number was ...
Mortgage rates are based on movement in the bond market and bonds haven't been moving much over the past 3 days. That's resulted in very little change in the average mortgage rate from one...
Apart from July 1st, mortgage rates have fallen every day so far this month. The counterpoint is that only adds up to 4 business days so far.
The other counterpoint is that the im...
The average top tier 30yr fixed rate may not be back under 7% just yet, but as of Friday, it is back below the levels seen last Friday. That fact is at odds with major weekly rate surveys w...
"Data dependent" is one of the most common phrases heard from the Federal Reserve these days when it comes to rate-setting policy. And while the Fed doesn't directly dictate mortgage rates...
As is often the case with internet headlines these days, the headline overstates the reality on the ground--or at least over-dramatizes it.
Considering the last notable "ceiling" was seen...
Mortgage rates continued their frustrating and somewhat perplexing move higher today, thus bringing the average lender close to the highest levels since the end of May.
Rising rates are ...
The week began with a distinct absence of interest rate volatility, but things changed in a big way by Friday--at least compared to the previous week which was exceptionally quiet.
In...
Mortgage rates rose at the fastest pace in 2 weeks yesterday, but that wasn't a very tall order considering an almost perfect absence of movement leading up to that. Now today, a good amou...
After operating in an exceptionally narrow range since the beginning of last week, mortgage rates finally started doing something a bit different today. Unfortunately, the differences res...
Mortgage rates have been flatter than the earth according to the flat earth society. Much like the actual earth in many areas in the middle of the country--and especially Florida--things c...
Most mortgage lenders offer mortgage rates in increments of 0.125% (i.e. 6.875, 7.0, 7.125, 7.25, etc.). As such, a particularly notable day of mortgage rate movement is one in which we s...
After a rocky start to the year, things began to improve for rates and the inflation outlook in May. June took the improvement to the next level, but this week didn't affect the bigger picture.
...
The bond market was closed on Wednesday for the Juneteenth holiday. As such, mortgage lenders were either closed or unable to update mortgage rates based on market movement. To...
Mortgage rates began the week with a modest move back up and over the 7% threshold, but managed to erase some of those losses today. The improvement followed this morning's Retail Sales da...
Mortgage rates moved modestly higher to start the new week. With the average top tier 30yr fixed rate just under 7% on Friday, this meant a move to just over 7% today.
As alw...
Today saw the average conventional 30yr fixed rate rise ever so slightly for top tier scenarios. Most lenders are still quoting those scenarios just under 7%. Depending on the specifi...
You'd have to go back to March 28th to see the average mortgage lender offering a lower rate on a top tier, conventional 30yr fixed scenario than they're offering today. The same was techni...
It was an incredibly high consequence day for the bond market and, thus, mortgage rates due to the confluence of two extremely important events.
The first event was the monthly release of the...
Today's mortgage rates were fairly close to yesterday's at the average lender for the 3rd business day in a row. Friday was the last day with any substantial movement when rates spiked fo...
There's been a noticeable uptick in mortgage rate volatility over the past two weeks with a quick spike at the end of May, a nice drop in early June and then another spike last Friday following t...
There's a strong case to be made for the fact that interest rates had a sunny predisposition this week. In practical terms, that simply meant giving more credence to rate-friendly news an...
The outcome of certain economic reports will determine whether the next big move in interest rates is higher or lower. Two reports are more important than all others in that regard and we...
The phrase "data dependent" is ingrained in the current bond market psychology for good reason. Weaker trends in economic data will reliably cause the Fed to cut rates when the time comes.&...
For most lenders, you'd still see modestly lower rates on several days in mid May, but apart from that, you'd need to go all the way back to early April to see anything lower. Said differen...
Mortgage rates had a rough go of it in the 4 days following Memorial Day weekend (i.e. last week). To be fair, the tough part was limited to the first two days. Thursday and Friday both he...
This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher almost immediately.
It's often said that th...
If we overlook the nearly unchanged performance from last Friday, mortgage rates were on a 5 day losing streak as of yesterday afternoon with the 30yr fixed rising about a quarter of a percent....
Mortgage rates most recently bottomed out on May 15th with the average top tier conventional 30yr fixed scenario being quoted just a hair under 7.0%. It's been a fairly consistent march hi...
It was a mini rollercoaster of a day for mortgage rates with the average lender starting the day at lower levels than Friday only to end at the highest levels since May 3rd. The weakness ...
It was largely a dull week for financial markets in terms of scheduled data and volatility, but numerous Fed speeches helped reiterate what the market thought it already knew. Specifically,...
For the most part, the current week is sorely lacking in the sort of scheduled economic data and events that typically contribute to exciting movement in the interest rate world. This morni...
It was another slow day for the mortgage market and one that joins a list of several other relatively inconsequential days in the past few weeks. This is a byproduct of the bond market (bon...
Referring to the past 3 business days as a "losing streak" for mortgage rates may be a bit harsh. During that time, the average top tier 30yr fixed rate rose less than an eighth of a perc...
Mortgage rates moved modestly higher on the two days at the end of last week. This put an end to a decent winning streak that had been in place since the beginning of the month, but it sto...
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...
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...
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) ...
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 ...
A message from Jeff Ball:
This is a DEMO marketing message. You can use them for promotional text. Mortgage rates are moving back down so feel free to give me a call or visit my website and I'll give you a quote.