Rates Edge Higher Ahead of Jobs Report

Mortgage rates gave back yesterday’s gains this morning following a stronger-than-expected employment report from ADP. While this is not the week’s biggest jobs report, investors view it as one of several early indicators of the official Employment Situation (the big jobs report that comes out tomorrow morning). In general, stronger economic data (i.e. more job […]

Mortgage Rates Higher Ahead of Jobs Report

Mortgage rates moved higher today, bringing them back in line with the highest levels in nearly a month. That sounds a bit worse than it actually is, due to the narrow range of rates over that time. In fact, most prospective borrowers would be quoted the same rate as yesterday, with the only difference being […]

Mortgage Rates Slightly Lower Ahead of Fed

Mortgage rates fell modestly today, but remained well inside the narrow range that’s been intact for more than a week. For most lenders, that means conventional 30yr fixed quotes of 4.0-4.125% on top tier scenarios. Most borrowers will continue to see day-to-day changes in the form of minor adjustment to upfront costs. Narrow ranges in […]

Rates Steady Near 2017 Lows Ahead of Jobs Report

Mortgage rates remained largely unchanged today, on average. Once again, there was a fair amount of volatility in bond markets (which dictate rates) during the day, but said volatility was contained in a narrow range that’s persisted all week. In fact, all of this week’s bond market movement has taken place inside the highs and […]

Mortgage Rates on Edge Ahead of Fed

Mortgage rates held steady today, on average, despite moderate improvements in underlying bond markets. Typically, bond market improvement results in comparable improvement for mortgage rates. The groundholding is the latest evidence of massive anxiety on the part of lenders ahead of tomorrow’s big Fed announcement. Lenders don’t want to be on the hook for low […]

Mortgage Rates Approach 3-Year Highs Ahead of Fed

Mortgage rates rose for the 10th time in the past 11 days today, bringing them very close to highest levels in 3 years. You’d have to go back to April 30th, 2014 to see the average lender offering higher rates. The most common conventional 30yr fixed quote is easily up to 4.375% on top tier […]

Mortgage Rates Modestly Higher Ahead of Trump Speech

Mortgage rates moved higher today in most cases, but not by much. More interesting is the fact that rates held their ground as well as they did considering several strong economic reports this morning. Strong economic data typically leads investors to sell bonds, which in turn results in lower bond prices and higher rates. This […]

Mortgage Rates Slightly HIgher Ahead of Yellen Testimony

Mortgage rates stood at their lowest levels in more than 2 months as of last Wednesday, but have since moved higher for 3 straight days . This leaves them roughly in the middle of their recent range–seemingly ready to move in either direction depending on this week’s motivation. Investors will be looking for that motivation […]

Mortgage Rates Edge Lower Ahead of Jobs Report

Mortgage rates fell modestly today, but not enough to make it back to the lows seen earlier this week. 4.25% is still the most prevalent 30yr fixed rate on top tier scenarios, meaning day-to-day movement has been limited to upfront costs (sometimes referred to as “points,” depending on the source of information). Since last Friday, […]

Mortgage Rates Drift Lower Ahead of Extended Weekend

Mortgage rates made their biggest move of the week today, although the competition wasn’t very stiff, considering yesterday’s microscopic improvement was the first noticeable change. Today’s improvement was certainly bigger, but still microscopic by normal standards. Few, if any lenders will be quoting lower “contract rates” today. The gains would instead be seen in the […]