Daily Mortgage Rates Update Archive Description http://www.mortgagenewsdaily.com/reports/mortgage_rates/archive Mortgage rates weren't quite finished with what they began on Wednesday, which was the worst we've seen in a long time . Despite bond markets managing to hold their ground for the most part today, rates were carried higher by yesterday's momentum--that is to say, lenders' rate sheets were worse this morning than yesterday afternoon despite the fact that trading levels in Mortgage-Backed-Securities weren't appreciably worse. (catch up with yesterday's big move: Why Did Mortgage Rates Skyrocket Past 2013 Highs on Wednesday? ) Considering that yesterday's rates were the highest in exactly one year, today's claim the "over a year" title and best-execution is pushing well into 3.75% for most lenders with some closer to 3.875% already. This isn't universally the case and a few lenders were closer http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/23/421 http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/23/421 Thu, 23 May 2013 20:56:00 GMT Mortgage rates were utterly destroyed today. Not only did the average rate move above the highest seen in 2013, but rates haven't been this high since May 22nd of 2012! Of course, there's the "everything's relative" perspective, whereby we can attempt to appreciate the fact that best-execution is still around 3.75%, but the fact remains that the day over day movement was devastatingly swift, and on the the most aggressively negative end of the spectrum of possibilities heading into the day. We'll dig into some of the reasons for today's spike after the following housekeeping note. Mortgage News Daily's rate series is updated every day, once a day (usually near the end of the day to account for any intraday reprices from lenders). It's based on actual lender rate sheets and assuming you're viewing http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/22/419 http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/22/419 Wed, 22 May 2013 23:47:31 GMT Mortgage rates finally caught a break, moving just slightly lower for only the second time this month. For some, the drop in rates may be too little too late as it still doesn't put much of a dent in the losses suffered in May. Best-execution for Conventional, 30yr Fixed Loans is still between 3.625% and 3.75%, and we noted a few lenders who were priced significantly worse than yesterday despite the majority being moderately improved. The leading candidate for the root cause of all the recent volatility is the general disposition of the Fed toward QE3, the "quantitative easing" programs responsible for the Fed's large-scale asset purchases. To a large, but unknown extent, QE3 is one factor keeping mortgage rates low because it makes for massive, guaranteed buying demand for mortgage-backed http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/21/417 http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/21/417 Tue, 21 May 2013 20:19:07 GMT Mortgage rates continued May's nearly constant trend higher to begin the week, though the pace of increases is slower compared to that seen on Friday. Even so, it brings rates dangerously close to their highest levels of 2013 (which are also the highest levels in 1 year). Best-execution for Conventional, 30yr Fixed Loans is in transit between 3.625% and 3.75%. Best-ex is also more subjective from borrower's points of view at the moment due to the fact that the most efficient rate on most rate sheets is 3.625% yet it might leave some borrowers bringing more to the table in terms of closing costs than they'd otherwise like. In other words, we're now getting into rate territory where 3.625% won't necessarily be a "no point" quote for the best qualified borrowers (but as always, this can vary greatly http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/20/415 http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/20/415 Mon, 20 May 2013 20:50:57 GMT Mortgage rates moved higher at their fastest pace in two weeks , after having their best day in more than 6 weeks just yesterday. The net effect for rates is not good, leaving them at their highest levels of the week and very close to 2013 highs seen in early March. While 3.625% remains as the best-execution rate for conventional, 30yr fixed loans, the costs associated with that rate (or whatever rate you're considering) are as high as they've been all week. Further increases from here start to shift the balance toward 3.75%. There's no question that the month of May has been exceptionally volatile for mortgage rates, in the context of the past 2 years anyway. Consider the "cost" side of the mortgage rate equation. Every rate has an associated cost implied. The lower the rate, the higher the http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/17/412 http://www.mortgagenewsdaily.com/reports/mortgage_rates/2013/5/17/412 Fri, 17 May 2013 20:49:38 GMT