Mortgage Rates Hold 2017 Lows Despite Market Volatility

Mortgage rates remained in line with 2017’s lows today, despite noticeable improvement in underlying bond markets. Under normal circumstances, bond market improvement equates fairly directly with mortgage rate improvement, but things aren’t exactly normal lately. On the simplest level, the timing of market movements over the past 2 days tells the story. The prices of […]

Mortgage Rates Modestly Lower Despite Flat Markets

Mortgage rates moved modestly lower today, despite an absence of improvement in underlying bond markets. Rates typically rise in this scenario, but this pattern has been more and more common recently. It’s nothing too scandalous–or even terribly interesting. Lenders are simply less eager to follow every little juke and head-fake in bond markets when things […]

Mortgage Rates Higher Despite Friendly Market Movement

Mortgage rates are largely dictated by movements in bond markets–specifically mortgage-backed securities (MBS). When bonds improve, prices rise and investors are willing to pay more to buy loans. This results in rates moving lower. In other words, bond market improvement = lower rates. With all of that in mind, today is a bit of a […]

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 […]