Articles from July 2017



Mortgage Rates Starting to Look Paralyzed

Mortgage rates were generally flat today, despite improvements in underlying bond markets. Although several lenders did offer price improvements throughout the course of the day, the improvements were generally “token” in nature and did little to alter the sense of paralysis in the bigger picture. This is the third straight day with essentially no change. […]

Rates Begin Week Unchanged at July’s Lows

Mortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders’ rate offerings), it was an exceptionally quiet day–especially for mortgage-related bonds. Activity should increase somewhat as the week progresses. That’s a typical pattern for most weeks–all other things being equal […]

Mortgage Rates Steady to Slightly Lower After Fed

Mortgage rates were steady to slightly lower today, despite fairly substantial movement in underlying bond markets. Bond prices ultimately do more to inform mortgage rates than anything else. Prices moved higher today by an amount that would typically result in effective rates falling 0.03-0.05% depending on the lender. But as it stands, the average lender […]

Mortgage Rates Spike, Erasing Last Week’s Gains

Mortgage rates moved abruptly higher today, erasing the improvement seen last week. An entire week’s worth of movement may or may not be worth stressing out about depending on your perspective. On one hand, we’re only talking about a change of roughly 0.06% in terms of the “effective rate” on the average 30yr fixed loan. […]

Mortgage Rates Hold 3-Week Lows After Central Bank Announcements

Mortgage rates held relatively steady today, keeping them in line with the lowest levels in more than 3 weeks. There was relatively little market movement in response to the policy announcement from the European Central Bank (ECB). That’s a good thing considering much of the recent gains in rates can be attributed to traders growing […]

Mortgage Rates Lowest in July

Mortgage rates moved lower today, setting yet another new low for the month of July. For the past 2 weeks, rates have been pushing back against a fairly abrupt spike that took place heading into the month. Concerns over the European Central Bank’s (ECB’s) bond buying plans sparked the move higher, but those concerns were […]

Mortgage Rates at 3-Week Lows

Mortgage rates moved lower today, despite slightly weaker underlying bond markets. This has been an ongoing phenomenon in recent days. Bonds improve, implying lower mortgage rates, but lenders wait to drop rates until bond market improvement is vetted. In the current case, yesterday’s market gains remained relatively intact despite today’s market losses, thus giving lenders […]

Mortgage Rates at 2-Week Lows After Yellen

Mortgage rates had been holding in a narrow range near their highest levels in roughly 3 months over the past few days. Despite some stability in underlying bond markets, lenders had hesitated to make meaningful adjustments to rate sheets (in their defense, there wasn’t much to work with). That all changed today after Fed Chair […]

Mortgage Rates Moderately Lower

Mortgage rates fell today, but continue to lagging behind the movements seen in underlying bond markets. Part of that has to do with the timing of bond market swings over the past few days, but lenders also simply want to see markets pick a theme and stick with it. Simply put: trading levels in bonds […]

Mortgage Rates Higher Despite Friendly Market Movement

Mortgage rates are largely dictated by movements in bond markets–specifically mortgage-backed securities (MBS). When bonds improve, prices rise and investors are willing to pay more to buy loans. This results in rates moving lower. In other words, bond market improvement = lower rates. With all of that in mind, today is a bit of a […]