Rates Hold 2017 Lows Despite Market Weakness

Mortgage rates managed to hold in line with 2017’s lowest levels for a 2nd day, even though underlying bond markets suggested a move higher . That means the prices of mortgage-backed-securities (MBS–the bonds that dictate mortgage rates) were lower. When MBS prices are lower, it means investors are paying lenders less to buy mortgages. Lenders […]

Mortgage Rates Hold Mostly Steady Despite Market Weakness

Mortgage rates were generally unchanged today. This is actually quite an accomplishment if you ask the average bond market participant. Mortgage rates are largely determined by bond market movement (specifically, that of Mortgage-Backed Securities or MBS). In the bigger picture, bond markets weakened today. Normally, that would push mortgage rates higher, but today the damage […]

Mortgage Rates Hold Near Lows Despite Market Weakness

Mortgage rates were steady to slightly higher today, depending on the lender, despite bond market weakness. Typically, bond market weakness results in rates moving higher, but the timing of market movements can be important. Specifically, yesterday saw bond markets move to their best levels of the day in the afternoon–too late in the day for […]

Rates Steady Despite Strong Jobs Data. Here’s Why…

Mortgage rates held steady today, despite a key report from the Labor Department showing stronger-than-expected job creation in February. Typically, a strong jobs report is bad for rates. This one likely would have been bad as well, but markets got advance notice from another report earlier in the week. Remember Wednesday’s ADP data? It thoroughly […]

Rates Remain Lower vs Last Week Despite Rising Today

Mortgage rates continued higher today, bringing them back in line with Monday’s levels. Part of the rise was due to weaker trading levels in bond markets. Just as important is the fact that many lenders didn’t raise rates yesterday afternoon as the bond weakness began (weaker bond markets imply higher rates). In other words, unless […]

Mortgage Rates Higher Despite Help From The Fed

Mortgage rates were higher to end the day, but not as high as they might have been without the Fed Statement. The day began with a series of strong economic reports. The ADP Employment Report was much stronger than expected, as was the employment component of the ISM Manufacturing report. Investors connect those dots to […]

Rates Remain Higher Despite Afternoon Recovery

Mortgage rates moved higher for the 6th time in the past 7 business days, even after several lenders offered mid-day improvements in the afternoon. That leaves them at their highest levels of the year, although things were worse for most lenders earlier this morning. 4.25% remains the most prevalent quote on top tier conventional 30yr […]

Mortgage Rates Remain at Recent Highs Despite Afternoon Bounce

Mortgage rates rose slightly today, on average, but performances varied by lender and depending on the time of day. Rates were higher across the board this morning as global bond markets added to yesterday’s weakness (weaker bond markets = higher rates, in general). Investors were on edge ahead of Trump’s inauguration address as there was […]

Rates Stay Near Highs Despite Market Improvement

Mortgage rates stayed close to the highest levels in more than 2 years today, even though underlying bond markets left plenty of room for improvement. Typically, when bond markets improve as much as they did today, rates would be noticeably lower. The inconsistency has to do with more conservative lender pricing strategies surrounding the holiday […]

Mortgage Rates Bounce Lower Despite Jobs Report

Mortgage rates erased yesterday’s losses after today’s jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as “the jobs”) is traditionally one of the biggest sources of market movement. So when rates make a big move following the jobs report, it’s only natural to assume a cause and effect relationship. […]