Articles from August 2015

Mortgage Rates Varied by Lender Thanks to Volatility

Mortgage rates didn’t move much today. Depending on the lender, effective rates were either slightly higher or lower vs yesterday, with the average lender being just microscopically lower in rate. Keep in mind that the improvement would only be detectable in the form of lower closing costs, if at all. In most any case, the […]

Mortgage Rate Losing Streak Loses Steam

Mortgage rates were just barely higher today, greatly decreasing the momentum in a now 3-day losing streak. The timing of these movements is important as it relates to Freddie Mac’s widely disseminated mortgage rate report. Freddie’s weekly rate report is gospel, and indeed it’s very accurate given the limitations of its methodology. Sometimes those limitations […]

Mortgage Rates Slightly Higher After Treasury Auction

Mortgage rates continued slightly higher today , though they appeared to have second thoughts about that at first. In fact, several lenders made mid-day improvements to rate sheets as bond markets (which drive rates for mortgages, among other things) looked to be holding their ground. Bonds began to slide in the afternoon, following a weak […]

Mortgage Rates Little-Helped by Market Turmoil

Mortgage rates did manage to move lower again today. And that move does bring them to the best levels in more than 3 months. But apart from that, the day was a bit of a let-down. Here’s why. Mortgage rates are primarily dictated by the prices of Mortgage-Backed-Securities (MBS), a type of bond that’s similar […]

Mortgage Rates Bounce Higher as Global Panic Pauses

Mortgage rates moved higher today as global markets managed to avoid the same sort of panicked volatility seen yesterday. The month-long trend toward lower rates was already looking tired as of late last week, and it took the extreme movements in other markets to drag rates only modestly lower yesterday. Nevertheless, those were the lowest […]

Mortgage Rates Hit 3 Month Lows

Mortgage rates continued lower today, bringing most lenders to their best levels in more than 3 months. The average conventional 30yr fixed rate for top tier scenarios is now edging closer to 3.875%, though 4.0% is nearly as prevalent. By a small margin, today’s rates are the lowest since late May. Some borrowers will see […]

Mortgage Rates on Year’s Longest Winning Streak

Mortgage rates moved moderately lower yet again. This extends a winning streak that began on July 14th, making it the longest positive trend in 2015. If this seems paradoxical in light of everything you may have heard about the Fed hiking rates this year, that’s normal. Market participants and pundits have a long history of […]

Mortgage Rates Near Recent Lows After Fed Minutes

Mortgage rates dropped today –largely in response to the release of the Minutes from the most recent Fed meeting. The Minutes don’t convey any policy decisions (i.e. no rate changes or bond-buying announcements). Rather, they serve as a more detailed recap of the Fed’s 2-day discussion leading up to the official policy decision 3 weeks […]

Mortgage Rates Slightly Higher Ahead of Fed Minutes

Mortgage rates moved back up today, but continue holding well-inside last week’s range. “Movement” is a relative term these days considering it’s usually in reference to the closing costs associated with prevailing rates (as opposed to changes in rates themselves). In other words, if you were quoted 4.0% yesterday, you’d likely see the same rate […]

Mortgage Rates Fall After Weak Economic Data

Mortgage rates improved just slightly today, but for most lenders, it was enough to erase the weakness seen last Friday. Behind the move was much weaker-than-expected manufacturing data out of New York. Weak economic data tends to encourage investors to buy bonds. Among those bonds are the mortgage-backed-securities that dictate mortgage rates. As more are […]