Mortgage Rates Coast Into Extended Weekend

Mortgage rates didn’t move much today. Lenders that made detectable adjustments generally did so in a moderately positive direction. While this isn’t remotely enough to make a difference in the actual NOTE rate on a mortgage quote, it could make for microscopically lower upfront costs (thereby affecting the “effective” rate). As far as note rates […]

Mortgage Rates Unchanged Heading Into Fed Week

Mortgage rates were unchanged today, holding onto modest improvements seen yesterday. In many ways, the past 2 days have confirmed that rates are in limbo near the lower end of the post-election range. To be sure, they were definitively lower in mid-April, but they’re much closer to recent lows than highs. More importantly, current levels […]

Rates Pushing Deep Into Post-Election Range

After stumbling just slightly yesterday, mortgage rates returned to their recent habit of setting new 2017 lows today. At this point, we’re getting closer and closer to post-election lows. You’d have to go all the way back to November, 14th 2016 to see anything lower. In specific terms, even more lenders have joined the majority […]

Rates Move Deeper Into 2017 Lows After Trump Comments

Mortgage rates continued lower today, bringing them even deeper into new lows for 2017. Bond markets (which underlie rate movement) were already doing just fine this morning, but got a boost from Trump’s comments on the strength of the US Dollar in the afternoon. Specifically, Trump said the dollar is “too strong.” The implication is […]

Mortgage Rates Still Pushing Into Post-Brexit Highs

Mortgage Rates were only slightly higher today, and in some cases were right in line with yesterday’s. In fact, if you caught a lenders’ rate sheet earlier this morning, chances are it was in better shape than yesterday. That stood to reason, considering bond markets (which drive mortgage rates) were also in slightly better shape […]

Mortgage Rates Fall Back Into Range

Mortgage Rates were in a bit of a pickle on Friday afternoon. The big jobs report had just come out slightly weaker than expected, yet rates didn’t improve as they normally would, following such data. In fact, underlying bond markets were pointing toward HIGHER rates by the end of the day. We were left to […]

Mortgage Rates Deeper into 3-Year Lows

Mortgage rates moved lower today, largely because they needed to get caught up with yesterday afternoon’s movement in bond markets. As a reminder, mortgage rates are most directly affected by mortgage-backed-securities (MBS), which tend to move in the same direction as US Treasuries. Both MBS and Treasuries improved significantly after yesterday’s Fed announcement, but lenders […]

Mortgage Rates Inch Further Into 1-Year Lows

Mortgage rates barely budged today, but did manage to gain just a bit of ground. That means another 1-year low, technically, although many lenders are quoting the exact some conventional 30yr fixed rates as yesterday. The range is currently between 3.5% and 3.625% with most lenders still at the higher boundary. Investors were anxious to […]

Mortgage Rates Well Into Mid 3’s

Mortgage rates kept moving lower today as global financial markets remain in distress. This time around, the improvement wasn’t as much about the bond market gains as it was about lenders getting caught up with yesterday’s gains. As we discussed yesterday, when it comes to adjusting rate sheets to match trading levels in financial markets […]

Mortgage Rates Moving Back Into Previous Range

Mortgage rates rose moderately today as investors moved back into riskier assets this morning. Stock markets made solid gains in premarket trading and global interest rates moved higher (the two are frequently correlated). In fact, stock prices and bond yields (aka “rates”) have been moving together more than normal recently–a sign that investors are uncertain […]