Articles from March 2015

Mortgage Rates Bounce Higher From Recent Lows

Mortgage rates finally moved noticeably higher today, something they haven’t done on 11 out of the last 12 days. Yesterday, I pointed out that such a winning streak is not the sort of thing we see too often, and that a step back toward higher rates was increasingly likely. This, then, is that step, but […]

Mortgage Rates Increase Rapidly

Mortgage rates rose rapidly today, almost completely erasing the improvement following last week’s Fed Announcement. This is especially ironic considering most major media outlets are running Freddie Mac’s weekly mortgage rate survey headline. Because that survey receives most of its responses on Monday and Tuesday, it fully benefited from the stronger levels earlier in the […]

Mortgage Rates Falling Toward Mid 3 Percent Range

Mortgage rates fell again today , extending an exceptionally strong 2+ week move back to lower levels after an exceptionally weak 5 week move to 2015 highs. The previous trend topped out after the big jobs report released on March 6th, and we’ve moved lower or held steady on all but one day since then. […]

Mortgage Rates Lowest in 6 Weeks

Mortgage rates continued lower today, reaching levels not seen since February 9th. This further solidifies the positive move that followed last week’s FOMC Announcement and Press Conference and offers ongoing confirmation that the disconcerting trend toward higher rates that began in February is defeated. While that doesn’t necessarily have any implications as to the direction […]

Mortgage Rates End Week at March Lows

Mortgage rates moved modestly lower on average today after doing an admirable job of holding their ground amid weaker market conditions yesterday. That weakness was largely the result of a technical correction to the immense strength seen after Wednesday’s Fed Announcement and Press Conference. The following two days have essentially legitimized that strength as something […]

Mortgage Rates Mostly Hold Yesterday’s Big Gains

Mortgage rates moved higher over the course of the day today as financial markets underwent a correction following yesterday’s big move lower in rates. Because today’s initial rate sheets were even better than yesterday’s, the move merely brought us back in line with yesterday, on average. Some lenders are slightly higher or lower, depending on […]

Mortgage Rates Lowest in 2 Weeks Ahead of Fed

Mortgage rates continue gently lower again today, extending a recent winning streak that’s seen improvements on 6 out of the past 7 days. While any winning streak is a welcome sight to fans of low rates, this one is most appropriately chalked up to the heavy losing streak intact for the 5 previous weeks. February […]

Best Day of the Year for Mortgage Rates Following Fed

Mortgage rates plummeted today , relatively speaking. While the average improvement of 0.10% might not look like much at face value, it’s the biggest one-day drop we’ve had in 2015, and in a league with very few other players historically. The motivation for today’s movement was twofold, but certainly the biggest factor was the Fed […]

Mortgage Rates Slightly Lower; Volatility Ahead

Mortgage rates fell modestly to begin the week following several weaker-than-expected economic reports. Economic data affects rates by motivating investors to seek out or avoid risk. In general, stronger data increases risk tolerance, and weaker data increases the demand for safer investments such as Treasuries and Mortgage-Backed-Securities (MBS), which dictate mortgage rates. Higher demand means […]

Consumer advisory: 3 pension advance traps to avoid

Many retirees depend on a pension to cover day-to-day as well as occasional unexpected expenses, such as health emergencies or home repairs. We’ve heard that some retirees with pensions who are facing financial challenges have responded to ads for cash advances on their pensions. Although pension advances may seem like a “quick fix” to your […]