Rates Rip to Highest Levels Since July 2015

It was all pain , all the time for mortgage rates today. Since the election, the average conventional 30yr fixed rate has risen roughly 0.5%, putting November 2016 on a short list of 4 worst months in more than a decade. Two of those months were back to back amid the 2013 taper tantrum and […]

Mortgage Rates Nearly Unchanged in 2015

Mortgage rates had an interesting year to say the least. After almost universal consensus on a move toward higher rates the first few months of the year instead saw a precipitous drop to long-term lows. Chalk that up to the inception of Europe’s bond buying program (and most of 2014’s improvements for that matter). Later […]

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions. Under the Regulatory Flexibility Act, federal […]

Rates Continue Hovering Near 2015 Highs

Mortgage rates remained near recent highs for a 2nd straight day after rising quickly on the first two days of the week. With the exception of only one other day, the past 3 days have been worst of 2015. Lenders continue quoting conventional 30yr fixed rates of 4.125% on top tier scenarios. On a positive […]

Mortgage Rates Hit New 2015 Highs

Mortgage rates were already hovering near 2015 highs as of yesterday. Today’s spike sent them easily above the previous annual high , set on June 10th. Normally, day to day market movement isn’t big enough to cause a change in the actual contract rates being quoted. In other words, it’s usually the upfront costs (or […]

Mortgage Rates Remain Near 2015 Highs as Fed Approaches

Mortgage rates looked like they might come down a bit today. The morning hours were generally positive for bond markets, including mortgage-backed-securities (MBS) which lenders use to set rate sheet levels. Indeed most rate sheets were slightly better than yesterday’s and several lenders lowered rates mid-morning. But when European markets closed, US market momentum shifted […]

Mortgage Rates Right Back to 2015 Highs

Mortgage rates bounced back up to the highest levels of 2015 today. Yet again, it was a frustrating and seemingly serendipitous move, unable to be blamed on any particular event or data. Markets and market-watchers don’t like this because it makes it hard to know when and why the next big move will happen. Even […]

Mortgage Rates Still Pushing 2015 Highs

Mortgage rates continued pressing into new highs for 2015. Most lenders are now quoting conventional 30yr fixed rates 4.25% on top tier scenarios. While this was already the case for many lenders yesterday, today’s losses would then be seen in the form of higher closing costs. In terms of the “effective rate” (which factors in […]

Mortgage Rates Fall Slightly from 2015 Highs

Mortgage rates were just slightly lower today, but only erased a small portion of Friday’s move to 2015 highs. Friday notwithstanding, today’s rates would be the highest since early November 2014. The average lender is still quoting conventional 30yr fixed rates of 4.125% on top tier scenarios. Mortgage rates are closely connected to movements in […]

Mortgage Rates Jump to new 2015 Highs

Mortgage rates jumped significantly higher today, bringing most lenders to their highest levels of 2015. The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios had briefly made it back to 3.875% at the end of last week. While a few of the most aggressive lenders remain at 3.875% most are now easily back […]