Mortgage Rates Sideways to Slightly Lower

Mortgage rates have been so little-changed in recent days that yesterday’s coverage wouldn’t need to be changed in order to apply perfectly today. Indeed, the 3rd paragraph is a word-for-word repeat. To be fair though, we would need to update yesterday’s reference to “especially over the past 5 days.” That “5” would now be a […]

Rates Surge Lower After Downbeat Economic Data

Most of the movement in mortgage rates had been slow, steady, and generally unfriendly in recent weeks. Today was a stark exception as rates surged significantly lower (relative to their recent range) following weaker-than-expected economic data. Weak economic data tends to help rates move lower, and this morning’s reports were the most important of the […]

Mortgage Rates Slightly Lower After Jobs Report

Mortgage rates recovered today, moving sideways to slightly lower after losing ground over the past few days. Today’s focal point was the Employment Situation–the big “jobs report” for the month of April. Job creation ended up slightly stronger than expected (211k new jobs created versus a median forecast of 185k). Stronger jobs data typically puts […]

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 […]

Mortgage Rates Slightly Lower, but Volatility Looms

Mortgage rates were lower for the 7th day in a row today, further extending their push into the lowest levels of the month. At first, that positive movement was driven by relief that the Fed’s rate hike outlook didn’t accelerate as much as investors expected. That motivation ran its course by the end of last […]

Mortgage Rates Steady to Slightly Lower

Mortgage rates managed to maintain the improvement seen since Wednesday’s Fed announcement. While the Fed did indeed hike its policy rate, the hike was widely expected and had already been accounted for in longer-term bond markets (like those that dictate mortgage rates). The easiest way to understand this is to consider that most bond market […]

Mortgage Rates Slightly Lower After Fed Minutes

Mortgage rates began the day decidedly lower than yesterday, but most lenders ended up revising rates higher in the mid-morning hours due to bond market weakness. Investors remained on edge heading into the release of the Minutes from the Fed’s most recent meeting. Markets were generally prepared for the Fed Minutes to support recent Fed […]

Mortgage Rates Slightly Lower to End Week

Mortgage rates moved lower for a 2nd straight day. This helps undo virtually all of the damage done by the first 3 days of the week. In other words, today’s rates are right in line with last Friday’s after having been noticeably higher for the past 4 days. There were no significant economic reports or […]

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 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, […]