Articles from January 2017



Mortgage Rates Slightly Lower to Begin Week

Mortgage rates fell modestly today , keeping rates near the lower end of the range seen since January 18th. The catch is that rates moved sharply higher on the 18th, and from there, you’d have to go back to late December to see anything higher. Simply put, we’re at the lower end of the recently […]

Mortgage Rates End Week Unchanged

Mortgage rates fell today, undoing enough of this week’s damage to return precisely to levels seen last Friday. In simpler terms, rates ended the week ‘unchanged.’ That’s not for lack of volatility during the week! 4 out of the 5 days saw bigger-than-average moves. Tuesday and Wednesday alone pushed rates more than an eighth of […]

Rates Remain Higher Despite Afternoon Recovery

Mortgage rates moved higher for the 6th time in the past 7 business days, even after several lenders offered mid-day improvements in the afternoon. That leaves them at their highest levels of the year, although things were worse for most lenders earlier this morning. 4.25% remains the most prevalent quote on top tier conventional 30yr […]

Mortgage Rates Higher as Volatility Continues

Mortgage rates have been volatile recently, with 3 out of the past 5 business days seeing much-bigger-than-average moves. After improving nicely yesterday, rates rose quickly today by nearly the same amount. Relative to the recent landscape, this leaves us in the same territory as Thursday the 19th, on average. Throughout this volatile stretch, top tier […]

Mortgage Rates Erase Last Week’s Losses

Mortgage rates fell somewhat significantly today, fully offsetting last week’s rise. Specifically, today’s average rates are back in line with those seen on Friday, January 23rd (keep in mind, however, that rates were slightly lower last Tuesday before moving appreciably higher through the course of the week). Bond markets (which dictate mortgage rate movement) were […]

Mortgage Rates Remain at Recent Highs Despite Afternoon Bounce

Mortgage rates rose slightly today, on average, but performances varied by lender and depending on the time of day. Rates were higher across the board this morning as global bond markets added to yesterday’s weakness (weaker bond markets = higher rates, in general). Investors were on edge ahead of Trump’s inauguration address as there was […]

Mortgage Rates Back Near 2-Month Lows

Mortgage rates moved lower today , generally recovering the losses seen last Friday. This brings many lenders back in line with the lowest levels since November 17th, although last Wednesday (Jan 11) was slightly better on average. There hasn’t been enough volatility to unseat 4.125% as the most prevalent 30yr fixed “note rate” on top […]

Rates Rise Abruptly to 3-Week Highs

Mortgage rates moved sharply higher today , more than erasing yesterday’s improvement. In fact, in one fell swoop, rates essentially moved from the bottom of 2017’s range to the top! There are a few caveats though. First, 2017’s range has been fairly narrow. Beyond that, this is only the 3rd week of the year. As […]

Rates Break Through Important Ceiling

Freddie Mac’s weekly mortgage rate survey came out this morning showing the lowest rates in 3 weeks (don’t get excited). This happens due to the survey’s methodology, which unfortunately relies on Monday/Tuesday rates almost exclusively. With lenders closed for business on Monday and with Tuesday legitimately being in line with the lowest rates of the […]

Mortgage Rates End Week at Highs

Mortgage rates moved higher today , even after many lenders offered mid-day improvements in the afternoon. Bond markets (which underlie rate movement) reacted negatively to this morning’s economic data. The biggest report of the morning–Retail Sales–was slightly weaker than the median forecast. Typically, this would HELP rates. But some traders were expecting the number to […]