Posts belonging to Category Hecm For Purchase

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 […]

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 Unchanged vs Last Week

Mortgage rates were generally unchanged today, compared to Friday afternoon’s latest levels. Only a handful of lenders responded to strength in bond markets this afternoon by offering rate sheet improvements. That’s a mixed blessing as it leaves other lenders with more to work with tomorrow. In other words, we’ll be heading into the day with […]

Mortgage Rates Modestly Lower Despite Flat Markets

Mortgage rates moved modestly lower today, despite an absence of improvement in underlying bond markets. Rates typically rise in this scenario, but this pattern has been more and more common recently. It’s nothing too scandalous–or even terribly interesting. Lenders are simply less eager to follow every little juke and head-fake in bond markets when things […]

Mortgage Rates Lowest in Just Over a Month

Mortgage rates moved just slightly lower today, bringing them to the best levels in over a month for the 2nd time this week. While that sounds somewhat impressive, day-over-day movement has been very small and the overall range has been very narrow during that time. For most prospective borrowers, a scenario quoted last week would […]

Mortgage Rates Trickle to 1-Month Lows

Mortgage rates continued lower today, matching the best levels in just over a month. Prospective borrowers are increasingly seeing conventional 30yr fixed quotes in the high 3% range on top tier scenarios, though 4.00% is still more prevalent overall. Consumer rates are dictated by movement in underlying bond markets. The first day of any given […]

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 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. […]