Daily Mortgage Rate Commentary Archive

Fri, 7:42 PM

Mortgage Rates End The Week Roughly Unchanged - Fri, 7:42 PM

Day to day movement has been subdued in mortgage rates recently, and now the week over week movement is just as uneventful. Friday's average top tier 30yr fixed rate almost perfectly matc...

Thu, 8:15 PM

Mortgage Rates Are Not Actually The Lowest Since April 2023 - Thu, 8:15 PM

It continues to be the case that mortgage rates are moving in a very narrow range with minimal changes from day to day. For instance, in the past week, the average mortgage payment would not ha...

Wed, 7:56 PM

Mortgage Rates Lower Despite Bond Market Weakness - Wed, 7:56 PM

On Wednesday, the average mortgage lender was quoting top tier, conventional 30yr fixed rates at the 2nd lowest level in more than a year. That's counterintuitive considering the modest los...

Tue, 8:59 PM

Mortgage Rates Sideways to Slightly Lower - Tue, 8:59 PM

It was another generally uneventful day for the bond markets and, consequently, for the mortgage rates that take cues from bond market movement. While there were a few more economic repor...

Mon, 8:07 PM

Mortgage Rates Basically Unchanged Over The Weekend - Mon, 8:07 PM

Mortgage rate movement is tied to activity in the bond market and like many things in the world of finance, the bond market depends on participation from human beings. As such, late summertime Mo...

Fri, August 23, 7:47 PM

Mortgage Rates Fall to 2 Week Lows After Fed's Friendly Message - Fri, August 23, 7:47 PM

Every year, the Federal Reserve (aka "the Fed") gathers in Jackson Hole, WY with a bevy of other central bankers and academics to discuss and comment on monetary policy in a setting that's slight...

Thu, August 22, 8:29 PM

Modest Bounce For Mortgage Rates - Thu, August 22, 8:29 PM

After moving lower for 4 straight days to hit the 3rd lowest levels in more than a year, mortgage rates bounced just a bit higher today. This was the first day of the week with meaningful...

Wed, August 21, 8:04 PM

3rd Best Day For Rates in Over a Year - Wed, August 21, 8:04 PM

Although the day to day changes in mortgage rates have been modest recently, the slow and steady improvement has brought the average top tier 30yr fixed rate back near the lowest levels in more...

Tue, August 20, 8:11 PM

Mortgage Rates Edge Lower Yet Again - Tue, August 20, 8:11 PM

File today under "nice." While it wasn't amazing, significant, or even the byproduct of any interesting events, mortgage rates managed to drift modestly lower, ultimately matching their l...

Mon, August 19, 7:42 PM

Mortgage Rates Move a Hair Lower to Start The New Week - Mon, August 19, 7:42 PM

After the intense volatility seen earlier in August, the average change for mortgage rates on any given day has been shrinking. Last week was a mere shadow of the former week which, in turn, wa...

Fri, August 16, 9:17 PM

Rates Are Settling Down After 2 Wild Weeks - Fri, August 16, 9:17 PM

Mortgage rates had a much calmer week this week compared to the previous 2. The average top tier 30yr fixed rate held a fairly narrow range between 6.49 and 6.58, with Friday's latest move...

Thu, August 15, 7:53 PM

Rates Jump Higher After Upbeat Economic Data - Thu, August 15, 7:53 PM

Mortgage rates had moved a bit lower since their most recent high last Thursday. By yesterday afternoon, the average lender had moved down to 6.49 from just under 6.63 for a top tier conve...

Wed, August 14, 8:35 PM

Mortgage Rates Dip Back Below 6.5% - Wed, August 14, 8:35 PM

Today brought the release of important economic data with the power to cause a sharp increase or decrease in mortgage rates . There are a wide variety of economic reports that guide invest...

Tue, August 13, 8:27 PM

Mortgage Rates Continue to Recover, But We Could See Big Moves Tomorrow, Depending on Data - Tue, August 13, 8:27 PM

If you're just here to keep an eye on daily changes in mortgage rates , today was solid. There was a modest improvement versus yesterday and the average lender is almost perfectly in line ...

Mon, August 12, 8:35 PM

Mortgage Rates Effectively Unchanged to Begin New Week - Mon, August 12, 8:35 PM

Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the weekend. Contrast that to last Monday whi...

Fri, August 9, 8:44 PM

Mortgage Rates Finally End This Week's Losing Streak - Fri, August 9, 8:44 PM

After starting out at the lowest levels in more than a year on Monday morning, mortgage rates had done nothing but increase through Thursday afternoon. The bounce was abrupt by typical st...

Thu, August 8, 6:50 PM

Mortgage Rates Are NOT Lower This Week - Thu, August 8, 6:50 PM

It's Thursday and thus time once again for a side-by-side glimpse at our actual daily average 30yr fixed mortgage rate and the weekly survey-based rate from Freddie Mac. The latter is widel...

Wed, August 7, 9:18 PM

Mortgage Rates Move Higher Again, But at a Much Gentler Pace - Wed, August 7, 9:18 PM

Yesterday saw one of the largest single day mortgage rate increases in years, although there were more than a few caveats. We discussed those in greater detail in yesterday's update. ...

Tue, August 6, 7:40 PM

Big-Time Bounce For Mortgage Rates After Hitting Long-Term Lows - Tue, August 6, 7:40 PM

In and of itself, today was quite awful for mortgage rates with conventional 30yr fixed rates moving up faster than on almost any other day in the past few years. As unpleasant as that so...

Mon, August 5, 9:18 PM

Lowest Mortgage Rates in More Than a Year - Mon, August 5, 9:18 PM

As of Friday, the average top tier 30yr fixed mortgage rate was merely at the lowest levels of 2024. A modest additional drop this morning brought that number to the lowest level since Apri...

Fri, August 2, 9:45 PM

Rates Plummet as The Market Buys Into The Big Shift - Fri, August 2, 9:45 PM

The events of this past week serve as an exclamation point in one of the many sentences that tells the story of the big shift away from the generationally high rates seen at the end of 2023. ...

Thu, August 1, 8:45 PM

Mortgage Rates Down to Lowest Levels of The Year - Thu, August 1, 8:45 PM

It's official! At this point, you'd need to go all the way back to the end of December 2023 to see a lower average rate for a top tier, conventional 30yr fixed mortgage. Today's rates...

Wed, July 31, 9:11 PM

Rates Drop to Another Long-Term Low After Fed Announcement - Wed, July 31, 9:11 PM

The Fed didn't cut rates today and rates then moved quickly lower. Naturally, there's more to the story than that, but the paradox is a good reminder that the market reacts in real time to ...

Tue, July 30, 7:42 PM

Mortgage Rates Trickle to New 6 Month Low Before Fed Announcement - Tue, July 30, 7:42 PM

Mortgage rates began the day with the average lender quoting just slightly higher rates compared to yesterday's latest levels. By the end of the day, however, that average had fallen to it...

Mon, July 29, 8:00 PM

Mortgage Rates Start Week at 6 Month Lows - Mon, July 29, 8:00 PM

Although the range has been very narrow for the past few weeks, average mortgage rates nonetheless fell to the lowest levels in more than 6 months. Top tier conventional 30yr fixed scenar...

Fri, July 26, 9:37 PM

Inflation Data Continues Paving The Way For (Eventual) Rate Cuts - Fri, July 26, 9:37 PM

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...

Thu, July 25, 6:52 PM

Mortgage Rates Inch to Another Short Term High - Thu, July 25, 6:52 PM

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 ...

Wed, July 24, 8:35 PM

Mortgage Rates Move Up To 2 Week Highs After Starting Out Flat - Wed, July 24, 8:35 PM

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 ...

Tue, July 23, 7:50 PM

Mortgage Rates Stay Boring, But For How Long? - Tue, July 23, 7:50 PM

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...

Mon, July 22, 8:51 PM

Mortgage Rates Remain Unchanged to Start The Week - Mon, July 22, 8:51 PM

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...

Fri, July 19, 9:03 PM

Mortgage Rates Jump to Highest Levels of The Week - Fri, July 19, 9:03 PM

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 ...

Thu, July 18, 8:02 PM

Mortgage Rates Didn't Actually Move Sharply Lower Today - Thu, July 18, 8:02 PM

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...

Wed, July 17, 8:26 PM

Mortgage Rates Holding Near 5 Month Lows - Wed, July 17, 8:26 PM

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...

Tue, July 16, 8:00 PM

Mortgage Rate Winning Streak Finally Ends, But Just Barely - Tue, July 16, 8:00 PM

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...

Mon, July 15, 8:36 PM

Mortgage Rates' Impressive Winning Streak Faces Increasing Resistance - Mon, July 15, 8:36 PM

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...

Fri, July 12, 8:23 PM

Mortgage Rates Shrug Off Seemingly Threatening Inflation Data to hit 5 Month Lows - Fri, July 12, 8:23 PM

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 ...

Wed, July 10, 7:44 PM

Mortgage Rates Tick Back Below 7.0%, But Just Barely - Wed, July 10, 7:44 PM

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 ...

Tue, July 9, 8:08 PM

Mortgage Rates Barely Budge, But That Will Change Soon - Tue, July 9, 8:08 PM

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...

Mon, July 8, 7:50 PM

Mortgage Rates Gently Lower to Begin New Week - Mon, July 8, 7:50 PM

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...

Fri, July 5, 8:21 PM

Mortgage Rates End Week Lower Thanks to Jobs Report - Fri, July 5, 8:21 PM

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...

Wed, July 3, 6:09 PM

Mortgage Rates Move Lower After Weak Service Sector Report - Wed, July 3, 6:09 PM

"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...

Tue, July 2, 8:48 PM

Mortgage Rates Finally Find a Ceiling, For Now - Tue, July 2, 8:48 PM

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...

Mon, July 1, 9:09 PM

Mortgage Rates Near Highest Levels in More Than a Month - Mon, July 1, 9:09 PM

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 ...

Fri, June 28, 9:48 PM

Mortgage Rates Are Actually Higher This Week - Fri, June 28, 9:48 PM

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...

Thu, June 27, 8:20 PM

Mortgage Rates Steady to Slightly Lower - Thu, June 27, 8:20 PM

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...

Wed, June 26, 7:37 PM

Mortgage Rates Moving Up a Bit - Wed, June 26, 7:37 PM

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...

Tue, June 25, 6:36 PM

The Miraculously Sideways Streak Continues - Tue, June 25, 6:36 PM

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...

Mon, June 24, 7:26 PM

Mortgage Rates Remain Exceptionally Flat for 4th Straight Day - Mon, June 24, 7:26 PM

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...

Fri, June 21, 8:37 PM

June Shaping Up Nicely, But Bigger Tests Are Yet to Come - Fri, June 21, 8:37 PM

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. ...

Thu, June 20, 7:12 PM

Mortgage Rates Unchanged Versus Tuesday's Levels - Thu, June 20, 7:12 PM

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...