May 2020 - Mortgage Rate Watch

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Mortgage Rates Stage Nice Comeback, But Uncertainty Remains

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by Matthew Graham on May 29 2020, 5:50 PM

Mortgage rates staged a nice little comeback today, moving back toward the all-time lows seen late last week. Mortgage rates are determined primarily by the bond market, and the bond market benefited from strong demand at the end of the month. Higher...
Mortgage Rates Have Already Risen From All-Time Lows (But Only Slightly)

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by Matthew Graham on May 28 2020, 4:38 PM

It's Thursday, and thus time once again for Freddie Mac's weekly mortgage rate survey. This is the longest-running and most widely-cited snapshot of mortgage rates in the US, but it frequently results in misinformation for mortgage shoppers . The survey...
Mortgage Rates Hold Steady

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by Matthew Graham on May 27 2020, 4:56 PM

Mortgage rates managed to stay sideways today after beginning the week with a move higher yesterday. This is a victory all things considered. Rates take guidance from multiple sources. When it comes to mortgages, the prices of mortgage-backed bonds are...
Mortgage Rates Moving Higher to Start New Week

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by Matthew Graham on May 26 2020, 4:09 PM

Mortgage rates hit new all-time lows last week. In fact, for many lenders, records were broken on more than one day. That raised the risk of a bounce back this week and if today is any indication, that's what we're seeing. The average lender is back in...
The Sun Also Rises For The Housing and Mortgage Markets

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by Matthew Graham on May 22 2020, 3:31 PM

There's no shortage of bad news when it comes to the economy and the housing market. But that's no surprise considering the circumstances. The sheer size and speed of the economic contraction makes it easy to worry about what the future will look like...
Mortgage Rates Are Actually Lower This Week

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by Matthew Graham on May 21 2020, 3:50 PM

Mortgage rates were mostly steady today for most lenders. Those who changed generally did so in a friendly direction. Either way, that means today's rates remain in line with all-time lows. It also makes them markedly lower than last week. Despite that...
Another Week, Another Trip to All-Time Lows For Mortgage Rates

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by Matthew Graham on May 20 2020, 5:53 PM

Mortgage rates fell again today. Whereas yesterday's improvements arrived in choppy fashion only after many lenders quoted higher rates in the morning. Today's improvement was more conclusive and more consistent from lender to lender. While there were...
Mortgage Rates Fall Back Toward All-Time Lows

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by Matthew Graham on May 19 2020, 4:50 PM

Mortgage rates were mixed this morning, depending on the lender. The more responsive lenders had already bumped rates higher yesterday in response to weakness in the bond market and were thus able to offer modest improvements this morning, or at least...
Mortgage Rates Will Have to Wait to Set More Records

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by Matthew Graham on May 18 2020, 4:44 PM

Mortgage rates hit all-time lows on Friday, based on the average rate for a top tier conventional 30yr fixed loan scenario. At that time, I raised the question as to whether that was really "news" considering we were already in line with all-time lows...
Lowest Rates Ever! (Until Next Week?)

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by Matthew Graham on May 15 2020, 4:34 PM

As of yesterday, we knew mortgage rates were already in line with their lowest levels ever . It wouldn't have taken much to set the record today and indeed that's exactly what happened. Thus we find ourselves in a familiar situation where rates have returned...
Mortgage Rates are Actually Lower This Week

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by Matthew Graham on May 14 2020, 3:49 PM

Mortgage rates move lower again today. Combined with yesterday's drop, the improvement has been significant for top tier rate quotes in the lower range of available rates. What does that mean, exactly? A rate quote isn't simply a rate. That's only one...
Mortgage Rates Back in Line With Recent Lows

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by Matthew Graham on May 13 2020, 4:02 PM

Mortgage rates improved today, on average, but things can vary quite a bit depending on the lender. Several lenders are back in line with their lowest rates of the past 2 weeks. With the exception of early March 2020, these are the lowest rates of all...
Mortgage Rates Start Strong But End Day Higher

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by Matthew Graham on May 11 2020, 7:12 PM

Mortgage rates began the day slightly lower compared to last Friday, but that didn't last long . Underlying bond markets were under pressure from the outset. When bond prices fall, rates move higher, all other things being equal. The bond market has a...
Mortgage Rates End Week on Low Note (The Good Kind)

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by Matthew Graham on May 08 2020, 6:59 PM

Mortgage rates ended the week on a low note (in a good way), falling in line with their best recent levels. This put some lenders in line with April 30th's offerings which is a great place to be considering they marked the 2nd lowest rates of all-time...
Rates Are Still Low, But Let's Talk About Forbearances

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by Matthew Graham on May 06 2020, 5:20 PM

Mortgage rates moved slightly higher this week, but not enough to worry about too terribly much. Most lenders are still in the mid-to-low 3% range and there's not much fear about an abrupt move to significantly higher levels any time soon. Whether or...

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