Articles from August 2017

Mortgage Rates Up Slightly From Long-Term Lows

Mortgage rates rose moderately today as weekend news headlines suggested some measure of de-escalation of nuclear tensions between the US and North Korea. To be sure, the news wasn’t resoundingly conciliatory, but investors took solace in it nonetheless. In general, when headlines suggest the world is less likely to end by Monday, investors will be […]

More 2017 Lows for Rates; More Trump Drama

Mortgage rates moved lower again. Drama surrounding the Trump administration was also present. But this time around, the political theater wasn’t responsible for the move lower in rates. In fact, it resulted in multiple lenders adjusting rate sheets higher in the middle of the day. Fortunately, rates fell enough in the morning that the net […]

Trump Administration Drama Pushing Rates Even Lower

Mortgage rates fell yesterday in response to a tweet about Trump disbanding his councils of CEOs. Twitter was in play again today . This time around it was Gary Cohn, Trump’s economic advisor. Rather, it was rumors of Cohn’s departure that sent financial markets into a tail-spin. Terror attacks in Spain may have played a […]

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Mortgage Rates Back to 2017 Lows on Trump Tweet

Mortgage rates dropped today after news broke (first rumors, then confirmation via Twitter) that President Trump was disbanding his councils of CEOs. The move apparently came in response to attrition among several CEOs following Trump’s press conference on recent events in Charlottesville, VA. In not so many words, Trump disbanded the councils before any more […]

Rates Rising as North Korea Talks Baseball

Mortgage rates continued higher today as markets reacted to news that North Korea would tactically abstain from launching nuclear weapons at Guam because it was having such a good time watching the “foolish and stupid conduct of the Yankees.” Perhaps Kim Jong Un is a Sox fan? Someone should tell him that series is over […]

Mortgage Rates Uninspired at 9-Month Lows

Mortgage rates held near the lowest levels since November 2016 today, after a key economic report showed subdued inflation. The Consumer Price Index (CPI) is one of the most important metrics relied upon by the Fed when it comes to measuring the impact of its policies. In general, if inflation is increasing or running higher […]

New 2017 Lows for Rates, But There’s a Catch

Mortgage rates fell to new lows for the year today, following the North Korea nuclear threat headlines. In truth, the preceding sentence gives too much credit to geopolitical risk. Rates were already drifting very close to the lowest levels since the election, even before yesterday’s news broke. Additionally, the improvements are still too small to […]

Mortgage Rates Hold 2017 Lows Despite Market Volatility

Mortgage rates remained in line with 2017’s lows today, despite noticeable improvement in underlying bond markets. Under normal circumstances, bond market improvement equates fairly directly with mortgage rate improvement, but things aren’t exactly normal lately. On the simplest level, the timing of market movements over the past 2 days tells the story. The prices of […]

Millennials prove their dependency on FHA loans is shrinking

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