Daily Mortgage Rate Commentary Archive

Mon, 7:57 PM

Mortgage Rates Move Slightly Lower to Start New Week - Mon, 7:57 PM

Mortgage rates didn't move much on Monday, but they moved in the right direction with the average lender 0.03% lower for a top tier 30yr fixed scenario versus last Friday. That makes this ...

Fri, July 18, 9:10 PM

Mortgage Rates Barely Budge Today and This Week - Fri, July 18, 9:10 PM

While any rate watcher's bingo card should always have a few squares devoted to "unchanged, flat, etc.," this week's had at least as many squares reserved for a big reaction to inflation data.&nb...

Thu, July 17, 6:51 PM

Mortgage Rates Staying Broadly Sideways - Thu, July 17, 6:51 PM

Despite all of the economic data and news headlines over the past few days, mortgage rates have barely budged since last Friday. That was not what we expected this week given the anticipation f...

Wed, July 16, 7:06 PM

Mortgage Rates Mostly Sideways After Dodging Mid-Day Drama - Wed, July 16, 7:06 PM

This morning brought another inflation report. Given the negative reaction to yesterday's inflation data, there was some cause for concern. Thankfully, today's data was more unequivocally accepta...

Tue, July 15, 7:06 PM

Mortgage Rates Move Higher Despite Decent Inflation Reading - Tue, July 15, 7:06 PM

Mortgage rates are based on bonds and bonds don't like inflation. When inflation reports are higher than the market expected, rates tend to rise, all other things being equal. ...

Mon, July 14, 6:59 PM

Mortgage Rates Just a Hair Higher Ahead of Important Inflation Report - Mon, July 14, 6:59 PM

Today's movement in mortgage rates , in and of itself, is barely worth mentioning. The average lender remains close enough to Friday's levels but is technically just a hair higher. T...

Fri, July 11, 5:45 PM

Highest Mortgage Rates of The Week, Just Barely - Fri, July 11, 5:45 PM

Yesterday, we characterized the prevailing mortgage rate momentum as "broadly sideways," and while that's still very true in the bigger picture, words like "up" and "higher" might need to be spri...

Thu, July 10, 8:49 PM

Mortgage Rates Broadly Sideways - Thu, July 10, 8:49 PM

Most of this week's mortgage rate movement has been an aftershock following last week's jobs report. That data sent rates quickly higher and that momentum has gradually faded over the past few da...

Wed, July 9, 7:35 PM

Mortgage Rate Losing Streak Ends With Moderate Victory - Wed, July 9, 7:35 PM

It's a bit of a stretch to refer to the past week as a "losing streak" for mortgage rates . The worst part about it was the consistency of upward movement starting last Wednesday. In terms of th...

Tue, July 8, 7:26 PM

Mortgage Rates Still Lower Than May/June Despite Drifting Higher - Tue, July 8, 7:26 PM

Bad news first: mortgage rates have been moving steadily higher in July with the average top tier 30yr fixed scenario rising from 6.67% to 6.81% in just 4 business days. This isn't an inc...

Mon, July 7, 7:13 PM

Mortgage Rates Continue Higher For Third Straight Day - Mon, July 7, 7:13 PM

For the entire 2nd half of June, it was easy to be spoiled by the absence of volatility in mortgage rates . During that time, rates were either lower or unchanged every single day. The past few ...

Thu, July 3, 6:56 PM

Mortgage Rates Rose Less Than Expected After Employment Data - Thu, July 3, 6:56 PM

Today brought the hotly anticipated jobs report. This is the "official" job count and unemployment rate data for the U.S. and no other report has as much consistent power to cause volatilit...

Wed, July 2, 6:53 PM

Rates Finally Rise Ahead of Jobs Report - Wed, July 2, 6:53 PM

Mortgage rates have generally been falling since May 21st and have done nothing but move lower for more than 2 weeks. That winning streak finally came to an end today with the average lend...

Tue, July 1, 7:09 PM

Mortgage Rates Hold Steady at 3 Month Lows - Tue, July 1, 7:09 PM

It's been 88 days since the average 30yr fixed mortgage rate was as low as it is today--close enough to 3 months. Some lenders may be higher or lower than they were yesterday depending on w...

Mon, June 30, 7:28 PM

Mortgage Rates Take Another Step Toward April Lows - Mon, June 30, 7:28 PM

April 3rd and 4th saw the average top tier 30yr fixed mortgage rates well into the "mid 6's." Many lenders were able to quote 6.5% at the time. Just a few days ago, we noted there w...

Fri, June 27, 5:16 PM

Mortgage Rates Not Too Far From 8 Month Lows - Fri, June 27, 5:16 PM

Friday's mortgage rates ended up being right in line with Thursday's on average. At 6.72%, the MND daily rate index is as low as it's been since early April when it hit 6.60%. If you're...

Thu, June 26, 7:02 PM

Mortgage Rate Winning Streak Continues - Thu, June 26, 7:02 PM

After topping out on May 21st, the average day for mortgage rates has been a good one. This has been especially true since June 6th with our 30yr fixed index moving down almost 0.25% thro...

Wed, June 25, 7:21 PM

Lowest Rates in Over 2 Months - Wed, June 25, 7:21 PM

The average top tier 30yr fixed mortgage rate had already dipped to the lowest levels since May 1st at the start of the week. Two additional days of modest improvement brings us to the lowe...

Tue, June 24, 6:37 PM

Mortgage Rates Lowest Since April - Tue, June 24, 6:37 PM

Yesterday saw mortgage rates fall to the best levels since early May. Now, today, we'd have to go all the way back to the end of April to find anything lower. Are the changes massiv...

Mon, June 23, 7:12 PM

Mortgage Rates Lowest Since May 1st - Mon, June 23, 7:12 PM

Mortgage rates ended the previous week roughly in line with the best levels since May 1st. Today's modest improvement made it official. Mortgage rates are primarily a function of t...

Fri, June 20, 5:07 PM

Mortgage Rates Hold Steady - Fri, June 20, 5:07 PM

With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed. This means that lenders were not able to update mortgage ...

Wed, June 18, 8:17 PM

Remarkable Absence of Mortgage Rate Volatility - Wed, June 18, 8:17 PM

It happens, but it's rare. A Fed "dot plot" day has come and gone with mortgage rates almost perfectly unchanged from the previous day. This speaks to the level of indecision not only in the ma...

Tue, June 17, 7:19 PM

Mortgage Rates Slightly Lower Ahead of Fed Day - Tue, June 17, 7:19 PM

Mortgage rates continue operating in a narrow range with almost every day of the past two months falling between 6.8 and 7.0% for a top tier 30yr fixed scenario. Today's average rate fell 0.03 a...

Mon, June 16, 7:53 PM

Mortgage Rates Drift Slightly Higher to Start The Week - Mon, June 16, 7:53 PM

While there's been no shortage of political and geopolitical headlines over the past 2 business days, there hasn't been much by way of inspiration for the bond market. Bonds (and, thus, rates) ha...

Fri, June 13, 7:11 PM

Mortgage Rates Bounce But Remain Lower on The Week - Fri, June 13, 7:11 PM

The top tier 30yr fixed mortgage rate index rose 0.04% on Friday, which would be a medium-sized defeat in and of itself. In the broader context, however, it was an acceptable adjustment on what h...

Thu, June 12, 7:50 PM

Lowest Mortgage Rates in More Than a Month - Thu, June 12, 7:50 PM

Mortgage rates being offered today are only a hair lower for the average lender than they were on June 4th, but June 4th was the best day since early May. In other words, today's average r...

Wed, June 11, 7:48 PM

Mortgage Rates Fall as Inflation Data Comes in Soft - Wed, June 11, 7:48 PM

After a calm start to the week on Monday and Tuesday, we were likely to see a bit more volatility on Wednesday due to important events on the calendar. The first was the morning's release of the ...

Tue, June 10, 7:37 PM

Mortgage Rates Inch Slightly Lower - Tue, June 10, 7:37 PM

It was a fairly boring day on what has turned out to be a fairly boring week so far for mortgage rates . After Friday's larger spike, we've seen a microscopic recovery on each of the past ...

Mon, June 9, 7:38 PM

Mortgage Rates a Hair Lower to Start The Week - Mon, June 9, 7:38 PM

As hoped, Friday's big rate spike did not carry additional momentum into the new week. This is occasionally a risk when rates are responding to big surprise in the jobs report, but slightly...

Fri, June 6, 7:13 PM

Mortgage Rates Jump Back Toward 7% After Jobs Report - Fri, June 6, 7:13 PM

Mortgage rates have enjoyed a nice run since May 21st, with the MND Index (average top tier 30yr fixed scenarios) falling from a recent peak of 7.08% to this week's low of 6.87%. As recently as ...

Thu, June 5, 7:37 PM

Mortgage Rates Little Changed, But Friday Could See a Bigger Move - Thu, June 5, 7:37 PM

Mortgage rates began the day perfectly in line with yesterday's latest levels for the average lender. By the afternoon, the underlying bond market had lost enough ground that a handful of lender...

Wed, June 4, 8:32 PM

Biggest Daily Drop For Mortgage Rates in Over a Month - Wed, June 4, 8:32 PM

Whether or not today's drop in rates is meaningful depends on one's perspective, but in the context of recent rate movement, it's definitely noticeable. The simplest way to think about the ...

Tue, June 3, 8:02 PM

Uneventful Day For Mortgage Rates - Tue, June 3, 8:02 PM

Sometimes a Tuesday is just a Tuesday for mortgage rates . In the present week, any day is capable of generating some volatility due to one of several economic reports on the calendar.&nbs...

Mon, June 2, 8:02 PM

Mortgage Rates Edge Higher to Start Busy Week - Mon, June 2, 8:02 PM

Mortgage rates have been in an exceptionally narrow range since last Tuesday with the 30yr fixed index hovering just under 7%. The average lender is just a hair higher today versus last Fr...

Fri, May 30, 7:28 PM

Another Small Victory For Mortgage Rates - Fri, May 30, 7:28 PM

It has turned out to be a surprisingly calm week for mortgage rates and, as of today, largely a victorious one, even if the victories have been modest. Today's installment involves a 0.02...

Thu, May 29, 7:49 PM

Mortgage Rates Move Slightly Lower After Today's Data - Thu, May 29, 7:49 PM

There was a bit of behind-the-scenes volatility in the bond market today. Normally, bond volatility translates to interest rate volatility. In some cases, the timing of the volatility is su...

Wed, May 28, 8:13 PM

Mortgage Rates Hold Mostly Steady - Wed, May 28, 8:13 PM

After moving moderately lower to start the new week yesterday, mortgage rates backtracked ever-so-slightly today. Top tier conventional 30yr fixed rates remain just under 7% for the avera...

Tue, May 27, 8:48 PM

Mortgage Rates Move Back Under 7% - Tue, May 27, 8:48 PM

The 30yr fixed mortgage rate index spent 3 consecutive days over 7% last week--the first time that's happened since February. Rates have generally been in a more volatile, more elevated ran...

Fri, May 23, 4:38 PM

Mortgage Rates Lower Again Today, But Still Higher on The Week - Fri, May 23, 4:38 PM

The bond market is scheduled to close 3 hour earlier than normal today--a common practice surrounding federal holiday weekends. This means 3 fewer hours where trading volatility can have an impac...

Thu, May 22, 7:20 PM

Mortgage Rates Edge Down From Recent Highs, But Remain Over 7% - Thu, May 22, 7:20 PM

Mortgage rates hit their highest level in just over 3 months yesterday with financial markets generally protesting the absence of more serious spending cuts in the spending bill. Rates car...

Wed, May 21, 7:43 PM

Mortgage Rates Move Up to 3 Month Highs - Wed, May 21, 7:43 PM

Two days ago, mortgage rates began the day at 7.04% before mid-day improvements brought the average back down to 6.99%. Today started out in a similar vein with the average lender at 7.05...

Tue, May 20, 8:32 PM

Mortgage Rates Hold Steady Near Recent Highs - Tue, May 20, 8:32 PM

Mortgage rates ultimately managed to hold steady on Tuesday despite some underlying market volatility. Rates change day to day (and sometimes intraday) based on movement in the bond market, and ...

Mon, May 19, 7:05 PM

Mortgage Rates Briefly Over 7% Before Mid-Day Improvement - Mon, May 19, 7:05 PM

Mortgage rates jumped sharply over the weekend as financial markets reacted to Moody's credit rating downgrade of the U.S. News of the downgrade broke with only minutes left in Friday's ma...

Fri, May 16, 8:25 PM

Mortgage Rates End Week Only Slightly Higher After Decent Recovery - Fri, May 16, 8:25 PM

The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%. That's a victory--albeit a small one--after hitting 6.99% on...

Thu, May 15, 7:36 PM

Mortgage Rates Catch a Break - Thu, May 15, 7:36 PM

Mortgage rates have done almost nothing but move higher in the month of May. The latest bump--seen yesterday--took the average top tier 30yr fixed rate to 6.99%. While this is fairly uneventful ...

Wed, May 14, 8:26 PM

Mortgage Rates Rising Closer to 7% - Wed, May 14, 8:26 PM

In early April, amid the most volatile portion of the market's reaction to the tariff announcement, mortgage rates were officially over 7% for a single day. By the middle of the following week,...

Tue, May 13, 8:26 PM

Mortgage Rates Hold Fairly Steady After Inflation Data - Tue, May 13, 8:26 PM

Tuesday brought the release of an economic report that has frequently been responsible for big swings in mortgage rates . The Consumer Price Index (CPI) is the earlier of the two big inflation r...

Mon, May 12, 8:32 PM

Mortgage Rates Jump to 2 Week Highs After US/China Trade Talks - Mon, May 12, 8:32 PM

Tariffs and trade policy have been a new and important consideration for the bond market for just over a month now. That matters to mortgage rates because mortgage pricing is primarily determin...

Fri, May 9, 8:30 PM

Mortgage Rates Barely Lower to End The Week - Fri, May 9, 8:30 PM

Whether it's today vs yesterday, or today vs the end of last week, the average top tier 30yr fixed mortgage rate is just a hair lower. Today's improvement was arguably a byproduct of trade rela...

Thu, May 8, 8:04 PM

Mortgage Rates Move Higher After Trade Deal - Thu, May 8, 8:04 PM

Mortgage rates moved back up to the higher levels seen earlier this week after the official announcement of a trade deal between the U.S. and the U.K. Most lenders actually began the day fairl...