Articles from December 2015



Mortgage Rates Edge Up to 5-Month Highs

Mortgage rates moved slightly highe r today. While it wasn’t a big move in the grand scheme of things, rates were already fairly close to their highest levels since early July . For most lenders, that means conventional 30yr fixed rates in the 4.125-4.25% range for top tier scenarios. The day began decently enough, with […]

Mortgage Rates Flat to Slightly Lower

Mortgage rates were sideways to slightly lower today as underlying bond markets continue to operate in holiday mode. While that can occasionally result in inexplicable volatility, market participants are generally trying not to rock the boat heading into the end of the year. That mission was accomplished today as bond markets stayed well within the […]

Beware Today’s Mortgage Rate Articles

Almost any article you see today on mortgage rates will say the same thing: “rates are roughly unchanged from last week.” Almost every article would be wrong , or at the very least, misleading. It is, by no means, the intention of those articles to mislead you, it’s the unfortunate byproduct of the methodology behind […]

Mortgage Rates End Post-Fed Winning Streak

Mortgage rates bounced slightly higher today, ending a 4-day winning streak that began with last Wednesday’s Fed rate hike. Generally speaking, the bond markets that underlie mortgage rate movement were prepared for more volatility and have been able to lower those defenses (i.e. move back down in rate) after the reaction to the Fed rate […]

Highest Mortgage Rates Since July

Mortgage rates moved up for the second consecutive day, but in an uncommon way. Mortgage-backed-securities (MBS) are the financial instruments that mortgages ultimately ‘become’ when they’re grouped together with other mortgages and sold to investors. While the MBS market can be a complex thing to understand and explain, here’s a simple fact: when MBS prices […]

HUD Finds Homelessness Prevention Demonstration Increased Housing and Employment for Veterans

WASHINGTON – In 2009, the U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA) and the U.S. Department of Labor (DOL) embarked upon a demonstration to explore ways to prevent or end homelessness among veterans. Today, HUD released the Veterans Homelessness Prevention Demonstration (VHPD) Evaluation Final Report, which finds […]

Mortgage Rates Modestly Lower

Mortgage rates continued a trend of small, steady improvements into the new week today. This marks the 4th straight day of a winning streak that began last Wednesday when the Fed announced its much-anticipated rate hike. If the notion of a Fed rate hike followed by falling mortgage rates doesn’t make sense, don’t worry. The […]

HUD and Census Bureau Announce New Residential Construction Activity in November

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for November 2015…. HUD Press Releases

Mortgage Rates Continue Lower Following Fed Hike

Mortgage rates continued modestly lower today as financial markets continue sorting out their reaction to yesterday’s Fed rate hike. As a reminder, the Fed Funds Target Rate (the thing that got hiked) is not directly connected to mortgage rates, and a hike was never a guarantee of impending doom. The past two days have demonstrated […]

Mortgage Rates Slightly Lower Ahead of Holiday Week

Mortgage rates maintained their paradoxical descent following this week’s Fed rate hike. The paradox can be accounted-for in several ways, but the easiest is to say that bond markets (which dictate mortgage rates) were erring on the side of caution leading up to the Fed announcement. Even though the hike was a given, the trading […]