Articles from February 2017

Mortgage Rates Slightly Higher

Mortgage rates moved slightly higher after a strong run to the lowest levels of the year as of last Friday. In general, financial markets moved toward safer investments (like bonds) heading into the weekend. When demand for bonds increases, rates move lower. As the new week got underway, market participants warmed back up to the […]

Mortgage Rates Match 2-Week Lows

Mortgage rates moved lower for the 4th time in 5 days today, bringing them to their lowest levels since February 9th. The caveat to any discussion of rate “movement,” however, is that the changes have been so small that they can really only be measured in terms of closing costs. In other words, most borrowers […]

Mortgage Rates Slightly Lower After Fed Minutes

Mortgage rates began the day decidedly lower than yesterday, but most lenders ended up revising rates higher in the mid-morning hours due to bond market weakness. Investors remained on edge heading into the release of the Minutes from the Fed’s most recent meeting. Markets were generally prepared for the Fed Minutes to support recent Fed […]

Mortgage Rates Slightly Lower to End Week

Mortgage rates moved lower for a 2nd straight day. This helps undo virtually all of the damage done by the first 3 days of the week. In other words, today’s rates are right in line with last Friday’s after having been noticeably higher for the past 4 days. There were no significant economic reports or […]

Mortgage Rates Finally Find Some Traction

After spending the past 5 business days moving higher, mortgage rates finally found their footing today. The improvement came in phases, with today’s first round of rate sheets only marginally better than yesterday’s. Bond markets (which underlie rate movement) surged into stronger territory around 11am as investors pared risk during Trump’s press conference. This allowed […]

Losing Streak Continues for Mortgage Rates

Mortgage rates moved higher for the 4th straight day today, following Fed Chair Janet Yellen’s congressional testimony. It wasn’t that Yellen’s speech or Q&A contained any major surprises. Rather, bond markets (which dictate rates) were simply looking for some indication of “sooner vs later” with respect to the Fed’s next rate hike. Her comments were […]

Mortgage Rates Approach 3-Week Highs

Mortgage rates rose for the 5th day in a row following a higher reading in this morning’s inflation data and an upbeat Retail Sales report. In general, stronger economic data and higher inflation motivate investors to move money out of the bond market. As demand for bonds falls, bond prices move lower and rates move […]

Mortgage Rates Slightly HIgher Ahead of Yellen Testimony

Mortgage rates stood at their lowest levels in more than 2 months as of last Wednesday, but have since moved higher for 3 straight days . This leaves them roughly in the middle of their recent range–seemingly ready to move in either direction depending on this week’s motivation. Investors will be looking for that motivation […]

Rates Remain Lower vs Last Week Despite Rising Today

Mortgage rates continued higher today, bringing them back in line with Monday’s levels. Part of the rise was due to weaker trading levels in bond markets. Just as important is the fact that many lenders didn’t raise rates yesterday afternoon as the bond weakness began (weaker bond markets imply higher rates). In other words, unless […]

Mortgage Rates Drop to 2-Week Lows

Mortgage rates moved lower today as investors sought safe haven from global political risk in the bond market. When investor demand for bonds increases, rates generally fall, all things being equal. Today’s improvement was fairly healthy, too. You’d have to go back to January 23rd–exactly 2 weeks ago–to see anything better at the average lender. […]