Mortgage Rates Tick Up After Jobs Report

While it was far from a dramatic move mortgage rates ticked slightly higher after today’s Employment Situation data, otherwise known simply as “the jobs report” or NFP (due to its headline component: nonfarm payrolls). On average, over time, NFP is the biggest market mover there is when it comes to economic reports. It’s no surprise […]

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 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 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 […]

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 […]