The interest rate market continues the healing process after taking heavy damage in October. During the course of that month, the average top tier conventional 30yr fixed rate increased mor...
Although there was a busier calendar of economic data today, mortgage rates are little changed after dropping at the fastest pace in several weeks to start the new week. Economic data is one of...
Last Monday, mortgage rates were near the highest levels in more than 3 months. A week later, and the average lender is right in line with the lowest levels in more than a month. Th...
Starting in early October, mortgage rates experienced significant volatility, meaning the average day over day change was much bigger than normal. While the term "volatility" technically ...
They may not be low. In fact, they may still be a lot higher than you want, but at least they haven't been too volatility this week. For the 7th day in a row, the top tier, convention...
Remember October and the first part of November--not because of the election, but rather because of the relentless rise in mortgage rates ? Would you rather forget? You're not alone....
Ask your favorite curmudgeonly old market watcher and they'll be happy to explain what "always" happens in financial markets when there's breaking news regarding large scale geopolitical risk.&nb...
The average top tier conventional 30yr fixed rate was just a hair over 7% on Friday afternoon and the same is true at the start of the new week. Rates are based on bonds, but while bonds mo...
This afternoon's mortgage rates are higher than yesterday's latest levels. That's a result of bond market weakness seen late yesterday and earlier this morning. Why would yesterday'...
Losses... weakness... selling pressure... When any of these things happen in the bond market, it puts upward pressure on interest rates . Mortgage rates are primarily determined by...
While there's been plenty of movement in the average mortgage rate on any given day recently, today was not one of them. 30yr fixed rates remained above 7%, but technically fell 0.01% (an a...
Last Thursday and Friday offered some hope that the persistent move to higher rates was finally leveling off. It wasn't necessarily a rational hope, but if nothing else, it was "nice" to se...
The bond market dictates day to day movement for all manner of interest rates , including mortgages. On election night, bond yields (another word for "rates") spiked as soon as traders fel...
There's a distinct risk that, even in the financial community, that people will look back on today's drop in interest rates and conclude it must have something to do with the Federal Reserve's ...
Mortgage rates spent the entire month of October moving higher at a fairly quick pace. Some of that had to do with stronger economic data, but at least as much had to do with the bond mark...
More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market. Even though bonds are constantly moving, it doesn...
Love it or hate it, election-related volatility has been having a big impact on the bond market and, thus, mortgage rates . Most of the volatility has resulted in higher rates, but there w...
It is our longstanding policy to strictly avoid politics except in cases where the political realm legitimately intersects with relevant events for rates. Now is clearly one of those times. The d...
Mortgage rates rates moved moderately higher today, and while that leaves the average 30yr fixed rate only slightly higher than it was on Tuesday morning (7.09 vs 7.08), it's also the highest ra...
The jobs report that came out at the beginning of October was a big wake up call for interest rates . Up until then, the prevailing belief was that the labor market was progressively softe...
Mortgage rates tend to be updated only once per day. Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentially bonds that are tied to cash flows f...
It's no mystery that mortgage rates have had a terrible October. As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--an increase of more than 0.625% this mo...
Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then. Technically each subsequent day saw a microscopic reduction in the average top tier...
Mortgage rates have risen every day since October 15th and some of the jumps have been fairly big. That followed an even bigger increase earlier in the month with the whole ordeal accounti...
Mortgage rates have been moving two directions recently and both of them are "up." Only the pace changes. Today's pace was modest to moderate, but because we were already at the high...
Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headline or economic report. Leading t...
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-September to being nearly as close to 7% tod...
There hasn't been much day to day movement in mortgage rates after the big jump caused by the jobs report earlier in the month. That jump ended on Monday the 7th and the average 30yr fixe...
Mortgage rates are driven by the bond market and bonds consistently take cues from economic data. Traders have been waiting on this Thursday's economic data ever since last Thursday, large...
Mortgage rates have been holding in a fairly narrow range since the middle of last week and today was one of the least interesting additions to the trend. The average lender is essentially...
The average mortgage lender is quoting rates that are just a fraction of a hair lower today compared to last Friday. Lenders were either closed or otherwise not able to update rates yesterd...
While this week's rates were substantially higher than most of last week's, if we remove a few flashes of volatility, the average lender stayed very close to Monday morning's levels. ...
We can appreciate that the daunting task of determining what "the" actual mortgage rate may be at any given moment. The word "the" is singled out in the previous sentence because there isn'...
Today brought the release of the minutes from the most recent Fed meeting in addition to numerous Fed speeches and the scheduled auction of 10yr Treasuries. Each of these events has at leas...
Mortgage rates spiked at their fastest pace in months on Friday following the jobs report and yesterday added insult to injury, making for a total increase of nearly 3/8ths of a percent (.375%) ...
It's been a strange and frustrating couple of weeks for anyone who mistakenly believed that mortgage rates would move lower after the Fed rate cut. To be sure, there is plenty of that sen...
Today's much-anticipated jobs report ended up coming out much stronger than expected. A stronger result was all but guaranteed to cause carnage (relative) in the mortgage market and that's ...
Depending on how tuned in you've been to changes in our daily rate tracking, the news may be getting old at this point. Rates have done almost nothing but move higher ever since the Fed cut...
Mortgage rates moved higher today after an employment report suggested that Friday's forthcoming Employment Situation (the BIG jobs report) might come in slightly better than expected. The...
While the past 5 months have been well-stocked with victories for mortgage rates , the past week and a half brought a bit of a pull back. Most of that upward momentum can be chalked up to ...
Mortgage rates have generally been moving higher since the Fed cut rates 2 weeks ago. We've discussed and explained that paradox exhaustively and can now move back to tracking the normal a...
'Tis the season for things to be something other than what they appear to be, apparently. Lenders are talking about new loan limits, but they haven't officially changed. News stories are saying r...
Because we created the industry's first daily mortgage rate index based on actual lender rate sheets without any subjective distortions, and because the longest-standing mortgage rate index in th...
Mortgage rates hit their lowest levels in more than a year and a half last Tuesday as the bond market put the finishing touches on its preparation for the Fed announcement the following day.&nbs...
The Federal Reserve is far from the only game in town when it comes to exerting influence on interest rates . That's a loaded statement, of course, considering we spent last week explainin...
Mortgage rates rose modestly last week after hitting long term lows before the Fed announced its 0.50% rate cut. In not so many words, mortgage rates had already gotten in position for tha...
Credit where credit is due: the rate market did an outstanding job of getting out in front of the Fed rate cut as well as the changes to the Fed's rate cut outlook as communicated in the summary ...
Today's release of Freddie Mac's Primary Mortgage Market Survey took at bad problem and made it worse. Freddie's survey methodology means that today's reported rate is an average of the 5 d...
We publish daily coverage of mortgage rate movement and have done so for nearly 20 years now. It's a great place to quickly check in on rate trends and to get a sense of what's true and wha...
Mortgage rates have fallen nearly 2% from last year's peak. Much of that decrease can be viewed as the normal phenomenon of longer term rates getting in position for changes in short term ...