Articles from December 2016



Mortgage Rates Lowest in 2 Weeks After Treasury Auction

Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn’t result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in the bond market (higher demand […]

Mortgage Rates Slightly Lower to End 2016

Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders. December 8th was the last time rates were lower. As of yesterday, 4.25% regained the status of the “most prevalent” conventional 30yr fixed quote on top tier scenarios. Quite […]

Rates Set to End Year With Glimmer of Hope

Mortgage rates moved lower today , somewhat significantly, depending on the lender. In many cases, quotes are an eighth of a point lower compared to Tuesday morning. Some lenders made the move yesterday. For others, today did the trick. In both cases, the “effective rate” (a hypothetical rate that accounts for lender-imposed closing costs) fell […]

Mortgage Rates Erase Last Week’s Modest Gains

Mortgage rates moved higher today, bringing them back into the range that’s dominated the second half of the month. That means the average lender is fairly close to the highest rates in more than 2 years, officially seen on December 15th. There hasn’t been much movement since then, which is not uncommon during the winter […]

Mortgage Rates Drift Lower Ahead of Extended Weekend

Mortgage rates made their biggest move of the week today, although the competition wasn’t very stiff, considering yesterday’s microscopic improvement was the first noticeable change. Today’s improvement was certainly bigger, but still microscopic by normal standards. Few, if any lenders will be quoting lower “contract rates” today. The gains would instead be seen in the […]

Markets Keep Moving, Rates Keep Staying The Same

Mortgage rates are officially checked out for the holidays . Today marked the third straight day with very little change from the previous day’s rates, despite plenty of justification from market movement. This worked against us yesterday as markets suggested lower rates, but it worked in our favor today as bond markets were slightly weaker […]

Rates Close to Capping Calmest Week in Years

Mortgage rates did nothing today. They did less than nothing . This week is already easily on track to be the calmest since the election. And if tomorrow is similarly lifeless, it will be one of the calmest weeks ever. Oftentimes, I’ll note that it’s the AVERAGE effective rate that’s “unchanged.” Indeed, it’s quite uncommon […]

Mortgage Rates Edge Slightly Lower

Mortgage rates continued the normal late-December trend of minimal movement today, but the average lender managed a microscopic improvement. This wasn’t nearly enough to change rates themselves (i.e. the “note rate” would be the same as it was yesterday on any given quote), but some quotes had slightly lower upfront costs. While they may be […]

Rates Stay Near Highs Despite Market Improvement

Mortgage rates stayed close to the highest levels in more than 2 years today, even though underlying bond markets left plenty of room for improvement. Typically, when bond markets improve as much as they did today, rates would be noticeably lower. The inconsistency has to do with more conservative lender pricing strategies surrounding the holiday […]

Mortgage Rates Unchanged at Multi-Year Highs

Mortgage rates stayed steady today, on average, though any given lender could be slightly better or worse compared to yesterday. Bond markets (which underlie rate movement) are beginning the process of winding down for the holiday season. That doesn’t mean that rates won’t move for the rest of the year–simply that the intraday rate movement […]