Daily Mortgage Rate Commentary Archive

Tue, 6:36 PM

The Miraculously Sideways Streak Continues - Tue, 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, 7:26 PM

Mortgage Rates Remain Exceptionally Flat for 4th Straight Day - Mon, 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...

Tue, June 18, 7:36 PM

Mortgage Rates Move Slightly Lower After Retail Sales Report - Tue, June 18, 7:36 PM

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...

Mon, June 17, 8:20 PM

Mortgage Rates Back Above 7% to Start New Week - Mon, June 17, 8:20 PM

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...

Fri, June 14, 7:27 PM

Mortgage Rates Remain Close to Recent Lows Despite Modest Bump - Fri, June 14, 7:27 PM

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...

Thu, June 13, 7:35 PM

Mortgage Rates Little Changed at Lowest Levels Since March - Thu, June 13, 7:35 PM

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...

Wed, June 12, 8:10 PM

Mortgage Rates Drop Sharply After Inflation Data (But Bounce a Bit After The Fed Announcement) - Wed, June 12, 8:10 PM

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...

Tue, June 11, 7:30 PM

Mortgage Rates Barely Budge For 3rd Straight Day, But That Should Change Tomorrow - Tue, June 11, 7:30 PM

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...

Mon, June 10, 7:02 PM

Mortgage Rates Slightly Higher to Start Pivotal Week - Mon, June 10, 7:02 PM

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...

Fri, June 7, 7:32 PM

Rate Optimism Put To The Test by Jobs Report - Fri, June 7, 7:32 PM

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...

Thu, June 6, 8:00 PM

Mortgage Rates Hold Steady Ahead of Important Economic Data - Thu, June 6, 8:00 PM

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...

Wed, June 5, 7:46 PM

Mortgage Rates Improve Again, Despite Headwinds From Economic Data - Wed, June 5, 7:46 PM

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.&...

Tue, June 4, 8:18 PM

Mortgage Rates Another Step Closer to 3-Month Lows - Tue, June 4, 8:18 PM

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...

Mon, June 3, 7:23 PM

Mortgage Rates Fully Erase Last Week's Spike - Mon, June 3, 7:23 PM

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...

Fri, May 31, 8:08 PM

Plenty of Rate Volatility Despite Holiday-Shortened Week - Fri, May 31, 8:08 PM

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...

Thu, May 30, 7:44 PM

Mortgage Rates Break 5 Day Losing Streak, But Remain Elevated - Thu, May 30, 7:44 PM

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....

Wed, May 29, 7:33 PM

Mortgage Rates Much Higher Over The Past 2 Weeks - Wed, May 29, 7:33 PM

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...

Tue, May 28, 7:40 PM

Rates Jump to Highest Levels in More Than 3 Weeks - Tue, May 28, 7:40 PM

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 ...

Fri, May 24, 6:43 PM

Mortgage Rates Are Actually Higher This Week - Fri, May 24, 6:43 PM

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,...

Thu, May 23, 7:45 PM

Mortgage Rates Jump to 2-Week Highs After Hotter Economic Data - Thu, May 23, 7:45 PM

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...

Wed, May 22, 8:28 PM

Mortgage Rates Feeling Uninspired as The Market Waits For Bigger News - Wed, May 22, 8:28 PM

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...

Tue, May 21, 7:38 PM

Mortgage Rates Stabilize After 3 Day Losing Streak - Tue, May 21, 7:38 PM

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...

Mon, May 20, 7:22 PM

Mortgage Rates Close Enough to Unchanged Over The Weekend - Mon, May 20, 7:22 PM

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...

Fri, May 17, 7:11 PM

Mortgage Rates Continue Higher For 2nd Straight Day - Fri, May 17, 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, May 16, 8:18 PM

Mortgage Rates Start Sideways But Move Higher in The Afternoon - Thu, May 16, 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, May 15, 6:28 PM

Mortgage Rates Back Under 7% After Inflation Data - Wed, May 15, 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, May 14, 8:31 PM

Another "Nice" Day For Rates, But Tomorrow is The Real Story - Tue, May 14, 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, May 13, 8:24 PM

Mortgage Rates Inch to New 1-Month Lows - Mon, May 13, 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...