Articles from June 2015

Rates Continue Hovering Near 2015 Highs

Mortgage rates remained near recent highs for a 2nd straight day after rising quickly on the first two days of the week. With the exception of only one other day, the past 3 days have been worst of 2015. Lenders continue quoting conventional 30yr fixed rates of 4.125% on top tier scenarios. On a positive […]

Mortgage Rates Hit New 2015 Highs

Mortgage rates were already hovering near 2015 highs as of yesterday. Today’s spike sent them easily above the previous annual high , set on June 10th. Normally, day to day market movement isn’t big enough to cause a change in the actual contract rates being quoted. In other words, it’s usually the upfront costs (or […]

Mortgage Rates Sideways Despite Market Improvements

Mortgage rates barely budged in most cases today. Some lenders were just slightly better. Others were worse. The average rate quote is unchanged vs yesterday with most lenders still offering conventional 30yr fixed rates of 4.125% on top tier scenarios. The lack of movement on rate sheets belies the fact that underlying market conditions improved […]

Mortgage Rates Caught in ‘Elevator Up, Stairs Down’ Cycle

Mortgage rates , true to recent form, can’t catch a break . Just when we think we might be seeing a glimmer of hope, we’re treated to several days of painfully higher rates. Of course, all of this is playing out over a fairly narrow range. Indeed, today’s movement is better measured in closing costs […]

Mortgage Rates Spike, Erasing 4 Days of Gains

Mortgage rates had been walking a slow, steady path of improvement since hitting 8 month highs on June 10th. From then on, there were only 2 days where rates did NOT improve. As of last Friday, the average conventional 30yr fixed rate quote for top tier scenarios was as close to 4% as it has […]

Mortgage Rates Near June Lows

Mortgage rates took a few more steps in the right direction today and have now made it back to levels not seen since the beginning of June. Only the first 2 days of the month were any better. That said, the month began with a quick jump to the highest rates in more than 8 […]

New Guidelines For Bad FHA Loans Won't Boost Lending

Law360, New York (June 19, 2015, 7:01 PM ET) — The federal government on Thursday provided lenders with a streamlined framework for how it …… Google Alert – FHA Loans

Mortgage Rates Modestly Lower After Fed-Induced Volatility

Mortgage rates had a wild ride today. Underlying bond markets were significantly weaker leading up to the afternoon’s Fed events. During this time, many lenders sent out reprices with higher rates compared to yesterday’s latest. After the Fed Announcement was released (along with the updated forecasts from Fed members on where they saw rates over […]

Mortgage Rates Still in Holding Pattern After Fed

Mortgage rates had a far calmer day compared to yesterday’s volatility. Morning hours brought stronger economic data. While this did put some pressure on the bond markets that underlie mortgage rate movement, it wasn’t enough for most lenders to recall their first rate sheets of the day. After European markets closed, US markets improved enough […]

Mortgage Rates Little-Changed With Fed Looming

The Fed doesn’t set mortgage rates , but changes in Fed policy are more than capable of sending shockwaves through the markets that affect mortgage rates. In all but rare cases, easy monetary policy is good for rates and constrictive policy is bad. There are notable exceptions, but this economic cycle isn’t likely to be […]