Mortgage Rates Back to 2017 Lows on Trump Tweet

Mortgage rates dropped today after news broke (first rumors, then confirmation via Twitter) that President Trump was disbanding his councils of CEOs. The move apparently came in response to attrition among several CEOs following Trump’s press conference on recent events in Charlottesville, VA. In not so many words, Trump disbanded the councils before any more […]

Mortgage Rates Uninspired at 9-Month Lows

Mortgage rates held near the lowest levels since November 2016 today, after a key economic report showed subdued inflation. The Consumer Price Index (CPI) is one of the most important metrics relied upon by the Fed when it comes to measuring the impact of its policies. In general, if inflation is increasing or running higher […]

New 2017 Lows for Rates, But There’s a Catch

Mortgage rates fell to new lows for the year today, following the North Korea nuclear threat headlines. In truth, the preceding sentence gives too much credit to geopolitical risk. Rates were already drifting very close to the lowest levels since the election, even before yesterday’s news broke. Additionally, the improvements are still too small to […]

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 Steady at Recent Lows

Mortgage rates held steady today, keeping them in line with the best levels in just over a month. That means the best-qualified borrowers putting more than 20% down are seeing conventional 30yr fixed rates of roughly 4%, depending on the lender. Some are quoting rates in the 3.75-3.875% range, but points and fees may vary. […]

Mortgage Rates Trickle to 1-Month Lows

Mortgage rates continued lower today, matching the best levels in just over a month. Prospective borrowers are increasingly seeing conventional 30yr fixed quotes in the high 3% range on top tier scenarios, though 4.00% is still more prevalent overall. Consumer rates are dictated by movement in underlying bond markets. The first day of any given […]

Rates Begin Week Unchanged at July’s Lows

Mortgage rates held steady today, which leaves them in line with the lowest levels in July. In underlying bond markets (bond movement directly impacts lenders’ rate offerings), it was an exceptionally quiet day–especially for mortgage-related bonds. Activity should increase somewhat as the week progresses. That’s a typical pattern for most weeks–all other things being equal […]

Mortgage Rates Hold 3-Week Lows After Central Bank Announcements

Mortgage rates held relatively steady today, keeping them in line with the lowest levels in more than 3 weeks. There was relatively little market movement in response to the policy announcement from the European Central Bank (ECB). That’s a good thing considering much of the recent gains in rates can be attributed to traders growing […]

Mortgage Rates at 3-Week Lows

Mortgage rates moved lower today, despite slightly weaker underlying bond markets. This has been an ongoing phenomenon in recent days. Bonds improve, implying lower mortgage rates, but lenders wait to drop rates until bond market improvement is vetted. In the current case, yesterday’s market gains remained relatively intact despite today’s market losses, thus giving lenders […]

Mortgage Rates at 2-Week Lows After Yellen

Mortgage rates had been holding in a narrow range near their highest levels in roughly 3 months over the past few days. Despite some stability in underlying bond markets, lenders had hesitated to make meaningful adjustments to rate sheets (in their defense, there wasn’t much to work with). That all changed today after Fed Chair […]