Mortgage Rates Spike, Erasing Last Week’s Gains

Mortgage rates moved abruptly higher today, erasing the improvement seen last week. An entire week’s worth of movement may or may not be worth stressing out about depending on your perspective. On one hand, we’re only talking about a change of roughly 0.06% in terms of the “effective rate” on the average 30yr fixed loan. […]

Mortgage Rates Give Back Some of Yesterday's Gains

Mortgage rates had their first great day in several weeks yesterday, but ended up giving back some of those gains today. Bond markets that underlie interest rates took their cues from central bank statements. In Europe, unnamed officials suggested the European Central Bank (ECB) would announce a plan to decrease its bond buying in September. […]

Mortgage Rates Holding Most of Their Recent Gains

Mortgage rates were flat today, after weaker-than-expected construction data prompted a positive bounce for bond markets. In general, bonds (which dictate mortgage rates) improve when economic data is weaker. Before this morning’s data, rates were at risk of coming out slightly higher compared to yesterday’s latest offerings. By holding flat, rates remain very close to […]

Mortgage Rates Mostly Hold Last Week’s Gains

Mortgage rates were s teady to slightly higher today, largely maintaining the improvements seen last week. Underlying financial markets were calm and very few lenders adjusted rate sheets during the day. Last week’s gains happened all at once on Friday. They fully erased an entire week’s worth of rising rates. That said, most of the […]

Fed Statement Erases Morning Mortgage Rate Gains

Mortgage rates ended the day relatively close to ‘ unchanged ,’ depending on the lender. That’s somewhat surprising considering the presence of several big-ticket events on today’s calendar of potential market movers. Chief among these was the most recent installment of the Fed’s policy announcement. While the Fed wasn’t necessarily expected to make any policy […]

Mortgage Rates Erase Last Week’s Modest Gains

Mortgage rates moved higher today, bringing them back into the range that’s dominated the second half of the month. That means the average lender is fairly close to the highest rates in more than 2 years, officially seen on December 15th. There hasn’t been much movement since then, which is not uncommon during the winter […]

Mortgage Rates Give Back Only Some of Friday’s Gains

Mortgage rates moved slightly higher today, erasing only some of the massive improvements seen after last Friday’s jobs report. In general, most lenders moved one-eighth of one percentage point lower in rate on Friday. Today’s weakness isn’t enough to raise rates by an eighth of a point, so instead, the weakness comes in the form […]

Mortgage Rates Manage Modest Gains Amid Market Volatility

Mortgage rates put in a more mixed performance today, owing to volatility in underlying markets. The day began well, following overnight improvements in global bond markets. To oversimplify, investors were guarding against risk by selling stocks and buying bonds. Excess demand for bonds leads to higher prices and lower yields. Mortgage-backed-securities (MBS) are a major […]

Mortgage Rates Spike, Erasing 4 Days of Gains

Mortgage rates had been walking a slow, steady path of improvement since hitting 8 month highs on June 10th. From then on, there were only 2 days where rates did NOT improve. As of last Friday, the average conventional 30yr fixed rate quote for top tier scenarios was as close to 4% as it has […]

Mortgage Rates Erase Friday’s Gains

Mortgage rates have now given back the ground gained after Friday’s big jobs report. To put that in perspective, rates are now modestly higher than the 2-month lows seen on Friday morning. Today’s rates are more in line with Thursday’s, though most lenders are still in slightly better shape. That said, the most common conventional […]