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After setting new lows last Thursday, mortgage rates drifted higher this week...that is until today when consumer borrowing costs improved sharply. This can be seen in the chart below.... If the note rate line is moving up, the closing costs associated with it are on the rise. If the note rate line is moving down, the closing costs associated with it are falling. The lowest home loan borrowing costs of our lifetime were available last Thursday. They didn't stick around long though, mortgage rates...

Despite a volatile back-drop, mortgage rates continue to hover near all-time lows. The reason we bring up volatility again is, although many lenders have greatly improved their consumer rate quotes over the past two weeks, there is an increased amount of variety in what individual lenders are now quoting as their BestExecution rates. This is a factor of price volatility in the secondary mortgage market . Unfortunately when volatility picks up in the secondary mortgage market, the cost of doing business...

Mortgage rates re-entered record-low territory last week, one-day after the Federal Reserve announced it would continue lending cash to banks at a 0% interest rate.... explicitly for the next two-years . Since then consumer borrowing costs have risen marginally, but remain in record-low territory... CURRENT MARKET *: The BestExecution 30-year fixed mortgage rate is 4.25% in most cases. Several lenders are willing to offer 4.000%, and even 3.875% is possible for those interested in buying down their...

We experienced some wild price swings today but consumer borrowing costs improved in the end. In many cases those improvements were significant. CURRENT MARKET *: The BestExecution 30-year fixed mortgage rate is between 4.00 and 4.250%. More lenders are willing to offer 4.00% and 4.125% is widely available. On FHA/VA 30 year fixed BestExecution is 4.00%. Some lenders are willing to quote 3.875% without extra closing costs. 15 year fixed conventional loans are best priced at 3.625% but we're seeing...

The craziness continues... Mortgage rates and most things related to bonds have ventured back into record setting territory. Stock markets are at the tipping point of full blown panic and interest rates have been the main beneficiary. IMPROVED CURRENT MARKET *: The BestExecution conventional 30-year fixed mortgage rate has improved to 4.250%. Some lenders are even offering 4.00% but that quote carries with it additional closing costs. On FHA/VA 30 year fixed BestExecution is now 4.00% with some lenders...

Mortgage rates improved last week amidst an atmosphere of major market uncertainty. It wasn't until Friday though, after exceedingly weak economic data, that consumer borrowing costs really rallied. This surprising positive development followed 10 straight sessions of unfriendly directional behavior. All of that negativity was essentially erased on Friday, leaving rates just above their best levels of the year. CHECK OUT THE CHART The rally didn't end there though. Over the weekend our nation's political...

Home loan borrowing costs enjoyed modest improvements today. While these gains are encouraging, fear of the unknown has put lenders back on the defensive. This is generally not a favorable environment for rate watchers. The chance that our political leadership fails to agree on a U.S. budget plan by August 2nd has tilted the "path of least resistance" toward higher rates. CURRENT MARKET *: The "BestExecution" conventional 30-year fixed mortgage rate is 4.625%. Fewer lenders are offering 4.50% without...

Home loan borrowing costs moved marginally higher this week. Fortunately these unfriendly developments did not negatively impact Current Market BestExection* quotes. Mortgage rates are still hovering just above their best levels of the year. Fear of the unknown has put lenders back on the defensive though. This is generally not a favorable market environment for rate watchers. The "path of least resistance" is tilted toward higher rates.... In the chart of Consumer Rate Quotes below, if the line...