http://www.mortgagenewsdaily.com/newsletter/n Mortgage Newsletters Archive https://www.mortgagenewsdaily.com/newsletter/n/20260731 Fri, 31 Jul 2026 04:00:00 GMT Fri, 31 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260731 Mortgage application activity pulled back last week as higher borrowing costs weighed on both home purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 6.4% decrease in total application volume on a seasonally adjusted basis for the week ending July 24. Purchase applications decreased 4% from the previous week on a seasonally adjusted basis but remained 3% higher than the same week one year ago. While housing inventory has improved in some markets, elevated mortgage rates continue to challenge affordability for many prospective buyers. Refinance activity weakened more sharply, with the Refinance Index falling 10% from the prior week and dropping 2% below year-ago levels. The decline suggests that fewer homeowners have an incentive to refi Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260730 Thu, 30 Jul 2026 04:00:00 GMT Thu, 30 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260730 It's not at all uncommon for mortgage rates to experience microscopic movement in either direction on any given day. In fact, it's probably the most common eventuality over time. In that sense, today was unremarkable with the average lender moving just a hair lower versus yesterday's latest levels. But in another sense, it's very good news. After yesterday's market reaction to the Fed press conference, there was a risk that bonds (which dictate rates) would continue their protest. The absence of additional drama suggests the reaction was "one and done."  This morning's economic data had a small chance to cause a reaction in rates, but it turned out to be uneventful and possibly even helpful.  [thirtyyearmortgagerates] Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260729 Wed, 29 Jul 2026 04:00:00 GMT Wed, 29 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260729 Heading into today's Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there's a catch. Rates exist on a spectrum defined by "duration." Specifically, there are different rates for different lengths of loans. The Fed Funds Rate is relevant to loans of the shortest duration (mostly overnight lending between the largest financial institutions). Mortgage rates , meanwhile, are more closely linked to longer term loans--bonds with durations that average 5-7 years.  When a Fed decision or the Fed outlook is actively being traded, we often see big divergences between the shortest-term rates and the longest. Today's reaction is a prime example. 2-year Treasuries (shor Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260727 Mon, 27 Jul 2026 04:00:00 GMT Mon, 27 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260727 After bottoming out around 6.5% in late June, mortgage rates moved steadily higher this month, ultimately hitting 6.85% last Thursday--the highest level in over a year. There was a modest recovery on Friday with a fair amount of intraday changes from the average mortgage lender.  Because rates are based on bonds, it's worth noting that bonds are in better shape today compared to Friday's latest levels. But if we use Friday's stronger mid-day levels as a baseline, bonds are just barely stronger. As such, it's no surprise to see mortgage rates just barely lower. The key consideration for the bond market over the weekend was the announcement of a pause in the fighting in Iran. This helped oil prices move lower, thus lowering inflation implications and bond yields. This is the financi Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260724 Fri, 24 Jul 2026 04:00:00 GMT Fri, 24 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260724 New home sales rebounded modestly in June, recovering some of the previous month's decline, though activity remained below year-ago levels as elevated mortgage rates and affordability challenges continued to weigh on demand. According to the latest Census Bureau and HUD data, sales of new single-family homes rose to a seasonally adjusted annual rate of 628,000 , up 1.6% from May but 5.6% lower than one year earlier. In the bigger picture, this sector has been broadly flat ever since the post-covid volatility died down in early 2023. Inventory edged slightly lower during the month. The number of new homes for sale slipped to 485,000 , down 0.2% from May and 3.2% below June 2025 levels. At the current sales pace, that translated to a 9.3-month supply, down from 9.4 Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260723 Thu, 23 Jul 2026 04:00:00 GMT Thu, 23 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260723 Mortgage moved higher today, and while the jump was no larger than the one seen on Monday, both were 'above average' and both took rates in the wrong direction. In addition, the steady weakness throughout the month of July finally resulted in yesterday's rates match the highest level in nearly a year.  In other words, it wouldn't have taken much of a jump for today's rates to be the highest in more than a year.  Our daily 30yr fixed rate index rose from 6.77% yesterday to 6.85% today--the highest since June 23rd, 2025. But here's the silver lining: July 2025 through February 2026 was unequivocally the best run we've had in the mortgage world since rates began their rapid ascent in 2022. The time frame was marked by steady declines and low volatility relative to previous few years. Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260722 Wed, 22 Jul 2026 04:00:00 GMT Wed, 22 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260722 We have bad news and slightly less bad news. Starting with the latter, today's mortgage rates are only marginally higher than they were yesterday with the average top tier 30yr fixed rate up 0.02%. The bad news is that this takes our rate index to 6.77%--the highest level since July 28th, 2025.  Mortgage rates are driven by the bond market and bonds remain under pressure from a renewed surge in fuel prices. Specifically, higher fuel prices and additional uncertainty about the Iran war increase inflation expectations, and it's inflation that is the actual thorn in the bond market's side. Last week's inflation reports definitely offered some solace, but the bond market has progressively come to terms with the fact that last week's data was for the month of June (the best month for l Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260721 Tue, 21 Jul 2026 04:00:00 GMT Tue, 21 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260721 In late July, 2025, 30yr fixed rates embarked on an excellent adventure, moving down from 6.75% on July 31st to 5.99% by late February, 2026. Since then, things haven't been great thanks to war-related fuel price drama and stronger econ data (the supreme court ruling on tariffs didn't help either, because it increased Treasury issuance implications). Regardless of motivations, the net effect was a return to 6.75% on May 19th, 2026. Momentum has been fairly sideways since then, with the 6.75% level being revisited last Monday and now again today.  For those who want to keep the analysis simple, fuel prices do a good enough job explaining the move. In fact, August gasoline futures also just hit their May 19th highs this week--perfectly aligning with the round trip in rates. For those Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260720 Mon, 20 Jul 2026 04:00:00 GMT Mon, 20 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260720 Last week ended on a promising note with Friday's rates falling just barely below the previous Friday's levels. This was a relief after the top-tier 30yr fixed rate matched 11-month highs for the average lender earlier in the week. Unfortunately, rates are starting the new week by heading back toward those highs. Our 30yr fixed rate index is up from 6.63% on Friday to 6.71% today. Many lenders raised rates in the middle of the day in response to weakness in the bond market. In general, that weakness is underpinned by renewed fighting in Iran (or more specifically, the effect of that fighting on fuel prices). [thirtyyearmortgagerates] Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter https://www.mortgagenewsdaily.com/newsletter/n/20260717 Fri, 17 Jul 2026 04:00:00 GMT Fri, 17 Jul 2026 04:00:00 GMT https://www.mortgagenewsdaily.com/newsletter/n/20260717 Pending home sales declined in June as elevated mortgage rates and record-high home prices continued to weigh on buyer demand. The National Association of Realtors' Pending Home Sales Index (PHSI), which tracks signed contracts on existing homes, fell 5.4% from May and was down 0.3% compared with a year earlier. The latest report suggests affordability remains a significant hurdle for prospective buyers. While employment gains continue to support household finances, higher borrowing costs and elevated home prices have kept many buyers, particularly first-time purchasers, on the sidelines. “The highest mortgage rates in nearly a year and the record-high national median home price together are contributing to a tepid housing market that is especially difficult for first-t Mortgage News Daily http://www.mortgagenewsdaily.com/rss/newsletter