Mortgage Rates Rise Modestly From 2017 Lows

Mortgage rates rose modestly today after spending 2 days at the best levels in nearly 8 months. Financial markets were tuned in to several key events with the power to cause volatility for rates today. Of these, the Senate testimony of former FBI Director Comey probably had the biggest spotlight. Rates were already coming under […]

Mortgage Rates Rise Gently From 7-Month Lows

Financial markets are still reeling from political headlines that first began circulating on Tuesday afternoon. While stock markets made a reasonable attempt to retrace yesterday’s big move lower, bond markets weren’t as interested. Fortunately, that means mortgage rates moved modestly higher , leaving them fairly close to yesterday’s 7-month lows. On Tuesday morning, well-priced lenders […]

Mortgage Rates Rise For 5th Straight Day

Mortgage rates rose by the smallest amount of the week today, but they rose nonetheless. That caps a streak of 5 straight days spent moving in an unfriendly direction. The caveat is that we continue to deal with an overall range that is generally very narrow. Between last week’s lows and this week’s highs, there’s […]

Rates Rise After Trump Speech, Not Because of It

Mortgage rates moved sharply higher today, bringing the average top tier 30yr fixed quote back to 4.25% from 4.125% previously. That doesn’t exactly mean that rates are .125%, depending on your perspective. While the actual rate applied to loan balances is .125% higher on average, the amount of interest paid in conjunction with a mortgage […]

Rates Rise Abruptly to 3-Week Highs

Mortgage rates moved sharply higher today , more than erasing yesterday’s improvement. In fact, in one fell swoop, rates essentially moved from the bottom of 2017’s range to the top! There are a few caveats though. First, 2017’s range has been fairly narrow. Beyond that, this is only the 3rd week of the year. As […]

Mortgage Rates Rise to 2nd Highest Levels in Over 2 Years

Mortgage rates rose meaningfully today, with most lenders coming close to the highest levels in more than 2 years (on December 1st). Keep in mind though, that my daily assessment puts rate movement under a microscope , so “rose meaningfully” is a relative term. In fact, many lenders are quoting the exact same contract rates […]

Mortgage Rates Rise Thanks to Europe

Mortgage Rates bounced highe r today, bringing them back in line with the pervasive range of the past several weeks. As of yesterday, rates were technically at 2-week lows. The ultra-narrow range continues to be an important caveat for any discussion of rate movement. Simply put, there is such a small gap between 2-week highs […]

Mortgage Rates Rise; Potential Volatility Ahead

Mortgage rates moved higher again today, after hitting the lowest levels in roughly 2 weeks last Friday. Like yesterday, today’s increase was fairly minimal in the big picture, but successive days of weakness can add up. Unlike yesterday, most borrowers would now be seeing slightly higher costs on today’s rate quotes compared to Friday’s. Here’s […]

Mortgage Rates Rise Ahead of Fed Minutes

Mortgage rates moved higher today as investors sold assets ahead of tomorrow’s Fed Minutes. Asset prices move lower when sellers outweigh buyers, and when the price of bonds moves lower, rates rise. This was most evident in the shorter-term bonds that react more to the Fed Funds rate. In other words, 2yr Treasury yields rose […]

Mortgage Rates Rise a Bit Despite Market Improvement

Mortgage rates were very slightly higher today. That’s counterintuitive because bond markets were slightly stronger, and that almost always coincides with rates moving lower. All of this requires a caveat though: we’re talking about very small movements. In fact, we’re not even really dealing with a change in the contract interest rates themselves–merely the upfront […]