Mortgage Rates Steady to Slightly Lower After Fed

Mortgage rates were steady to slightly lower today, despite fairly substantial movement in underlying bond markets. Bond prices ultimately do more to inform mortgage rates than anything else. Prices moved higher today by an amount that would typically result in effective rates falling 0.03-0.05% depending on the lender. But as it stands, the average lender […]

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 Fall Slightly to Remain Near 8-Month Lows

Mortgage rates were steady to slightly lower today, with underlying bond markets essentially erasing the damage seen yesterday. This was neither here nor there for the mortgage world as most lenders didn’t adjust rates much higher yesterday (despite bond weakness). Thus, they didn’t have much to do today when bonds strengthened. In general “bond market […]

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 Unchanged to Slightly Higher

Mortgage rates were unchanged to slightly higher today, keeping them in line with the previous 4 business days. This 5-day block stands out from the previous trend that had taken rates generally lower since the middle of March, ultimately hitting the best levels of the year on April 18th. At the time, a majority of […]

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 Higher After French Election

Mortgage rates moved moderately higher today, and most of the blame goes to the presidential election in France. If you’re wondering what European politics have to do with mortgage rates in the US, you’re not alone. While it certainly isn’t the first thing that comes to mind when thinking about what’s motivating rates, its impact […]

Mortgage Rates Slightly Higher, But Steady Overall

Mortgage rates rose slightly again today, despite moderate improvement in underlying bond markets. Typically, bond market improvement corresponds to lower rates. Today was an exception because of the timing of recent volatility. Friday afternoon saw a sharp deterioration in bond markets (implies rates moving higher), but for many lenders, it was too late in the […]

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 […]