Tue, Apr 11 2023, 4:50 PM
Mortgage rates didn't do much today (the average lender drifted microscopically, and Wednesday's CPI data has infinitely more power to move the needle...
Mon, Apr 10 2023, 3:54 PM
Mortgage rates put in a great performance last week--especially if you stopped paying attention on Thursday. At that time, it was the best weekly dro...
Fri, Apr 7 2023, 4:58 PM
Interest rates were remarkably calm in the last week of March. The market was in the process of shifting focus from the banking sector back to economi...
Thu, Apr 6 2023, 4:41 PM
Mortgage rates put in a solid performance so far this week with substantial declines to the lowest levels in months as of yesterday afternoon. Thursd...
Wed, Apr 5 2023, 3:53 PM
It seems like only a few weeks ago that the average 30yr fixed mortgage rate was surging up to 7% from 6% just a few weeks earlier. In fact, it doesn...
Tue, Apr 4 2023, 4:35 PM
As long as we're talking about the best case scenario conforming 30yr fixed mortgage rate, the average lender officially hit 2-month lows today, just ...
Mon, Apr 3 2023, 4:00 PM
Mortgage rates moved lower today as investors reacted to economic data that showed contraction in the manufacturing sector. The Institute for Supply ...
Fri, Mar 31 2023, 6:18 PM
Thu, Mar 30 2023, 4:09 PM
This week's theme has undoubtedly been the extreme absence of volatility in the rate market. Whether we're looking at mortgage rates themselves or a ...
Wed, Mar 29 2023, 5:03 PM
For the second day in a row, mortgage rates didn't move nearly as much as they have been moving on any given day during the past 3 weeks. This is a r...
Tue, Mar 28 2023, 5:09 PM
The week began with a noticeable uptick in mortgage rates relative to last week's lows. Today's momentum continued in the same direction, but with le...
Mon, Mar 27 2023, 4:18 PM
Mortgage rates hit their lowest levels in just over 6 weeks on Friday as investors braced for bad news in the banking sector. Such fears tend pull mo...
Thu, Mar 23 2023, 4:21 PM
Over the course of the past two days, the average conforming 30yr fixed rate has moved down to the lowest levels since early February for most lenders...
Wed, Mar 22 2023, 5:05 PM
There was some debate as to whether or not the Federal Reserve would hike the Fed Funds Rate today, although the consensus was for a 0.25% increase. ...
Tue, Mar 21 2023, 4:24 PM
Banking sector fears were responsible for a nice little drop in mortgage rates over the past 2 weeks. As those fears subside (to some extent, anyway)...
Mon, Mar 20 2023, 4:13 PM
Let's start today's rate coverage with a public service announcement on the best way to be a consumer of mortgage rate data online. It can be quite ...
Fri, Mar 17 2023, 4:48 PM
There’s certainly a chicken/egg problem when it comes to interest rate news. Is it the Fed’s decisions that move rates? Or do market forces move rates...
Thu, Mar 16 2023, 4:00 PM
Mortgage rates are ideally determined only once per day, several hours into the business day. This gives mortgage lenders time to observe a baseline ...
Wed, Mar 15 2023, 4:17 PM
Does Credit Suisse qualify as a "big bank" anymore? The company could be argued to be circling the drain for many months, but nonetheless holds hundr...
Tue, Mar 14 2023, 2:58 PM
Mortgage rates made substantial gains yesterday as financial markets underwent a classic flight to safety. This involves selling riskier assets like ...
Mon, Mar 13 2023, 2:53 PM
If you're just getting caught up or otherwise haven't heard, the biggest news in financial markets since last Friday has been the precipitous failure ...
Thu, Mar 9 2023, 3:38 PM
While the Federal Reserve doesn't directly dictate mortgage rates, the outlook for Fed rate hikes matters a great deal. In the days and weeks leading...
Wed, Mar 8 2023, 4:40 PM
There's probably not going to be any way around it. However volatile rates may have been in the past 2 weeks, they're at risk of much larger swings i...
Tue, Mar 7 2023, 4:11 PM
Jerome Powell is the Chair of the Federal Reserve--the entity that sets overnight lending rates in an attempt to keep inflation in a low, stable range...
Mon, Mar 6 2023, 4:10 PM
Mortgage rates have been hovering around the highest levels in months over the past 2 weeks, but had made a bit of progress by the end of last week. ...
Fri, Mar 3 2023, 4:43 PM
It's not a decisive victory, but rather, a nice way to end a week that had previously seen rates pushed over 7% for the first time in months. The bon...
Thu, Mar 2 2023, 3:14 PM
Mortgage rates have been hit hard on two fronts over the past month. The first front is the obvious one: the bond market has moved in a way that forc...
Wed, Mar 1 2023, 5:09 PM
If you want to see higher 30yr fixed mortgage rates, you'd have to go back to November 9th, 2022 after today. To be fair, that's been true on several...
Tue, Feb 28 2023, 4:08 PM
At face value, today was a loss for mortgage rates. The average lender is quoting a slightly higher rate for conventional 30yr fixed scenarios compar...
Mon, Feb 27 2023, 4:31 PM
Mortgage rates began the new week on a modestly positive note. The average lender is now quoting conventional 30yr fixed loans at a slightly lower ra...
Fri, Feb 24 2023, 5:10 PM
Thu, Feb 23 2023, 4:01 PM
We keep pretty timely track of mortgage rates around here--timely enough to account for several changes on any given day. As such, we mean it when we...
Wed, Feb 22 2023, 5:25 PM
The Federal Reserve directly controls the shortest term lending rates. Mortgage rates are dictated by longer-term bonds in the open market, but trade...
Tue, Feb 21 2023, 4:15 PM
On November 9th, 2022, the average lender was quoting 30yr fixed rates well over 7%. On day later, that figure dropped to 6.625%. It was one of the ...
Thu, Feb 16 2023, 2:53 PM
First off, I apologize. You're right. How would I know exactly what you've been told about mortgage rates today? I can only draw the same sort of g...
Wed, Feb 15 2023, 3:58 PM
Rates have been rising at a reasonably quick pace for most of February. The process began in earnest after labor market data on February 3rd. Market...
Tue, Feb 14 2023, 3:11 PM
The Fed generally wants annual inflation to be around 2% at the core level. "Core" is fancy market jargon for an economic metric that excludes some o...
Mon, Feb 13 2023, 5:20 PM
Before you let the promise of volatility alarm you, keep in mind that it cuts both ways. In other words, mortgage rate volatility can result in rates...
Fri, Feb 10 2023, 4:51 PM
Thu, Feb 9 2023, 1:58 PM
In general, this has been a week of correction and reversal for mortgage rates. After hitting the lowest levels in more than 4 months last week, they...
Wed, Feb 8 2023, 4:32 PM
Today's mortgage rate recap is largely similar to yesterday's--not because the same things happened, but rather because the bigger stories and bigger ...
Tue, Feb 7 2023, 4:35 PM
The majority of January was characterized by sharp decline in mortgage rate volatility and the lowest rates in several months, the first week of Febru...
Mon, Feb 6 2023, 3:34 PM
Mortgage rates were already under quite a bit of pressure on Friday following the stunningly strong jobs report in the morning. Strong economic data ...
Fri, Feb 3 2023, 4:34 PM
Interest rates take cues from several places. Regularly scheduled economic data is always a consideration because a stronger economy implies more grow...
Thu, Feb 2 2023, 3:52 PM
Mortgage rates responded favorably to yesterday's press conference with Fed Chair Powell. We discussed that move in detail in yesterday's commentary:...
Wed, Feb 1 2023, 4:48 PM
For some, this will be old hat. For others, there's a mystifying dynamic that demands explanation. The confusion stems from years of being condition...
Tue, Jan 31 2023, 4:02 PM
Mortgage rates have been roughly in line with last week's latest levels at the beginning of the current week. That means they're fairly close to the ...
Fri, Jan 27 2023, 4:43 PM
There are those who always try to portray the glass as being half full when it comes to the housing market. Then there are those who love a full glass...
Thu, Jan 26 2023, 3:33 PM
Scheduled economic reports are one of the first places the market looks to get a read on interest rate momentum. Of all the days this week, Thursday ...
Wed, Jan 25 2023, 4:26 PM
Mortgage rates are primarily determined by the bond market, and it's been an uneventful week for bonds! That means we haven't seen much of a change i...
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