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Mortgage Rates Holding Near Long-Term Lows to Start New Week | ||
9/9/2024 2:55 PM | ||
The average lender"s top tier 30yr fixed rate fell to the lowest level since April 2023 last week. That"s down more than 1.25% over the past 5 months. During that time, economic data and the Fed"s interpretation of the data have moved into better alignment with the idea of a rate cut cycle. As always, things like Treasury yields and mor...Read More | ||
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Mortgage Rates Drop to Lowest Levels Since April 2023 | ||
9/6/2024 4:15 PM | ||
Mortgage rates have a long and storied history of making big moves on the day that the big monthly jobs report comes out. In that regard, today was fairly normal. Indeed, the jobs report came out and mortgage rates made their biggest move of the week, dropping to the lowest levels since April 2023. The biggest catch in today"s case was...Read More | ||
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Lowest Rates in a Year and a Half. Friday Could Take Them Even Lower (Or Cause a Big Bounce) | ||
9/5/2024 3:17 PM | ||
Wouldn"t it be nice if you could know what was going to happen with mortgage rates before it actually happened? Since the dawn of time in financial markets, there"s someone who"s willing to make a seemingly compelling prediction about the future for every person who"s willing to believe such things are better than 50/50 guesses. When it...Read More | ||
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Mortgage Rates Near Recent Lows as Markets Wait For Jobs Report | ||
9/4/2024 2:54 PM | ||
Mortgage rates moved lower for the 2nd straight day on Wednesday with the average lender right in line with their lowest levels since August 5th. In fact, most borrowers would see little--if any difference between today"s loans quotes and those from August 5th. As such, today"s rates basically match the lowest in well over a year. This...Read More | ||
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Mortgage Rates Slightly Lower With Important Data Looming | ||
9/3/2024 2:24 PM | ||
You never know what you"re going to get on the days surrounding a 3 day weekend for financial markets, and that"s doubly true when it corresponds with the final/first trading day of the month. Despite all of those potential curveballs, the bond market stayed calm enough for mortgage rates to do the same. Friday took rates slightly highe...Read More | ||
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Mortgage Rates End The Week Roughly Unchanged | ||
8/30/2024 2:42 PM | ||
Day to day movement has been subdued in mortgage rates recently, and now the week over week movement is just as uneventful. Friday"s average top tier 30yr fixed rate almost perfectly matched last Friday"s and it was identical to where we began the week. Given the absence of any major market moving motivations, this isn"t a surpri...Read More | ||
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Mortgage Rates Are Not Actually The Lowest Since April 2023 | ||
8/29/2024 3:15 PM | ||
It continues to be the case that mortgage rates are moving in a very narrow range with minimal changes from day to day. For instance, in the past week, the average mortgage payment would not have changed by more than $2 a month on a $300k loan. That said, the past two days have seen the biggest movements during that time with today"s increase most...Read More | ||
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Mortgage Rates Lower Despite Bond Market Weakness | ||
8/28/2024 2:56 PM | ||
On Wednesday, the average mortgage lender was quoting top tier, conventional 30yr fixed rates at the 2nd lowest level in more than a year. That"s counterintuitive considering the modest losses in the bond market (weaker bonds = higher rates, all other things being equal). The explanation comes down to simple timing. Bonds were improvin...Read More | ||
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Mortgage Rates Sideways to Slightly Lower | ||
8/27/2024 3:59 PM | ||
It was another generally uneventful day for the bond markets and, consequently, for the mortgage rates that take cues from bond market movement. While there were a few more economic reports on tap, none of them had a big impact on trading levels. Instead, bonds began the day in slightly weaker territory before spending the rest of the day in...Read More | ||
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Mortgage Rates Basically Unchanged Over The Weekend | ||
8/26/2024 3:07 PM | ||
Mortgage rate movement is tied to activity in the bond market and like many things in the world of finance, the bond market depends on participation from human beings. As such, late summertime Mondays are occasionally superfluous when it comes to contributing to the broader interest rate narrative. Today was just such a Monday. The absence o...Read More | ||