Rates Fall to 2017 Lows After Jobs Report

Mortgage rates moved convincingly lower today following weaker-than-expected employment data from the Labor Department. The big “jobs report” showed only 138k new nonfarm payrolls (the report’s headline job creation metric) in May, and a negatively revised 174k in April (down from 211k). March was revised lower as well, painting a suddenly gloomier picture relative to […]

Upward Mortgage Rate Momentum Pauses After Fed

Mortgage rates moved moderately higher this morning, beginning the day at the highest levels in roughly 2 weeks. Afternoon events helped underlying bond markets bounce back, however, resulting in several lenders issuing positive reprices. This means that some lenders are in slightly better shape vs yesterday while others remain in worse shape. All things being […]

Rates Surge Lower After Downbeat Economic Data

Most of the movement in mortgage rates had been slow, steady, and generally unfriendly in recent weeks. Today was a stark exception as rates surged significantly lower (relative to their recent range) following weaker-than-expected economic data. Weak economic data tends to help rates move lower, and this morning’s reports were the most important of the […]

Mortgage Rates Slightly Lower After Jobs Report

Mortgage rates recovered today, moving sideways to slightly lower after losing ground over the past few days. Today’s focal point was the Employment Situation–the big “jobs report” for the month of April. Job creation ended up slightly stronger than expected (211k new jobs created versus a median forecast of 185k). Stronger jobs data typically puts […]

Mortgage Rates Hold Ground After Tax Plan Release

Mortgage rates were relatively unchanged today, but only after averaging the disparate changes from various lenders. That means some lenders are in much better shape versus yesterday while others are noticeably worse. This sort of disparate movement isn’t typical of mortgage rates across lenders, but it can happen when underlying bond markets experience volatility on […]

Mortgage Rates Slightly Higher After French Election

Mortgage rates moved moderately higher today, and most of the blame goes to the presidential election in France. If you’re wondering what European politics have to do with mortgage rates in the US, you’re not alone. While it certainly isn’t the first thing that comes to mind when thinking about what’s motivating rates, its impact […]

Rates Move Deeper Into 2017 Lows After Trump Comments

Mortgage rates continued lower today, bringing them even deeper into new lows for 2017. Bond markets (which underlie rate movement) were already doing just fine this morning, but got a boost from Trump’s comments on the strength of the US Dollar in the afternoon. Specifically, Trump said the dollar is “too strong.” The implication is […]

Rates Paradoxically Higher After Jobs Report

Mortgage rates rose modestly today, compared to yesterday’s latest levels. Compared to the morning’s rate sheets however, the rise was sharper, but even then, we’re talking about fairly small movement in the bigger picture. 4.125% is still easily the most prevalent conventional 30yr fixed quote for top tier scenarios, with the only change being in […]

After Hitting 1-Month Lows, Rates Bounce Abruptly Higher

Just one day after hitting the lowest levels in more than a month, mortgage rates bounced higher today. For all intents and purposes, rates fell on Monday morning as the weekend produced no meaningful updates on the recent healthcare bill . Now today, Speaker Ryan and several unnamed sources have confirmed that the bill remains […]

Rates Rise After Trump Speech, Not Because of It

Mortgage rates moved sharply higher today, bringing the average top tier 30yr fixed quote back to 4.25% from 4.125% previously. That doesn’t exactly mean that rates are .125%, depending on your perspective. While the actual rate applied to loan balances is .125% higher on average, the amount of interest paid in conjunction with a mortgage […]