Mon, Aug 12 2024, 4:35 PM
Today was completely different than the previous Monday in that it was a normal, boring day with essentially no change in mortgage rates over the week...
Fri, Aug 9 2024, 4:44 PM
After starting out at the lowest levels in more than a year on Monday morning, mortgage rates had done nothing but increase through Thursday afternoon...
Thu, Aug 8 2024, 2:50 PM
It's Thursday and thus time once again for a side-by-side glimpse at our actual daily average 30yr fixed mortgage rate and the weekly survey-based rat...
Wed, Aug 7 2024, 5:18 PM
Yesterday saw one of the largest single day mortgage rate increases in years, although there were more than a few caveats. We discussed those in grea...
Tue, Aug 6 2024, 3:40 PM
In and of itself, today was quite awful for mortgage rates with conventional 30yr fixed rates moving up faster than on almost any other day in the pas...
Mon, Aug 5 2024, 5:18 PM
As of Friday, the average top tier 30yr fixed mortgage rate was merely at the lowest levels of 2024. A modest additional drop this morning brought th...
Fri, Aug 2 2024, 5:45 PM
The events of this past week serve as an exclamation point in one of the many sentences that tells the story of the big shift away from the generation...
Thu, Aug 1 2024, 4:45 PM
It's official! At this point, you'd need to go all the way back to the end of December 2023 to see a lower average rate for a top tier, conventional ...
Wed, Jul 31 2024, 5:11 PM
The Fed didn't cut rates today and rates then moved quickly lower. Naturally, there's more to the story than that, but the paradox is a good reminder...
Tue, Jul 30 2024, 3:42 PM
Mortgage rates began the day with the average lender quoting just slightly higher rates compared to yesterday's latest levels. By the end of the day,...
Mon, Jul 29 2024, 4:00 PM
Although the range has been very narrow for the past few weeks, average mortgage rates nonetheless fell to the lowest levels in more than 6 months. T...
Fri, Jul 26 2024, 5:37 PM
This week's most important economic data was the PCE price index which is the gold standard of big picture inflation measurement. For those hoping to ...
Thu, Jul 25 2024, 2:52 PM
Mortgage rates continue moving in very small steps from day to day--something that's been the case since the Consumer Price Index (CPI) more than 2 we...
Wed, Jul 24 2024, 4:35 PM
Mortgage rates technically moved up to the highest levels in 2 weeks today, but that sounds a bit more dramatic than it actually is. Rates have large...
Tue, Jul 23 2024, 3:50 PM
Spats of volatility in the mortgage rate world seem to last only a matter of hours recently and to occur only a few times on any given month. The res...
Mon, Jul 22 2024, 4:51 PM
Mortgage rates rose at a moderately quick pace on Friday, partially in response bond market weakness on Thursday afternoon that happened too late in t...
Fri, Jul 19 2024, 5:03 PM
While there was never much of a chance of mortgage rates moving above the levels seen at the beginning of last week, they were easily able to nab the ...
Thu, Jul 18 2024, 4:02 PM
Thursday's mark the release of Freddie Mac's weekly mortgage rate survey. It's the longest running and most widely cited measure of mortgage rates, b...
Wed, Jul 17 2024, 4:26 PM
Despite an active calendar of events that had the potential to cause volatility, average mortgage rates managed to remain unchanged in the morning and...
Tue, Jul 16 2024, 4:00 PM
When is a defeat not really a defeat? Mortgage rates have an idea. They're fresh off an incredibly rare 8 day winning streak that took the average 3...
Mon, Jul 15 2024, 4:36 PM
We occasionally reference 5 day winning streaks for mortgage rates as the sort of uncommon occurrence that greatly increases the odds of at least a te...
Fri, Jul 12 2024, 4:23 PM
Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year. Today brough the PRODUC...
Thu, Jul 11 2024, 3:53 PM
Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price...
Wed, Jul 10 2024, 3:44 PM
Mortgage rates have been in a narrow range for more than a month now with the average top tier 30yr fixed rate staying within striking distance of the...
Tue, Jul 9 2024, 4:08 PM
Mortgage rates are based on movement in the bond market and bonds haven't been moving much over the past 3 days. That's resulted in very little chang...
Mon, Jul 8 2024, 3:50 PM
Apart from July 1st, mortgage rates have fallen every day so far this month. The counterpoint is that only adds up to 4 business days so far. The o...
Fri, Jul 5 2024, 4:21 PM
The average top tier 30yr fixed rate may not be back under 7% just yet, but as of Friday, it is back below the levels seen last Friday. That fact is ...
Wed, Jul 3 2024, 2:09 PM
"Data dependent" is one of the most common phrases heard from the Federal Reserve these days when it comes to rate-setting policy. And while the Fed ...
Tue, Jul 2 2024, 4:48 PM
As is often the case with internet headlines these days, the headline overstates the reality on the ground--or at least over-dramatizes it. Consider...
Mon, Jul 1 2024, 5:09 PM
Mortgage rates continued their frustrating and somewhat perplexing move higher today, thus bringing the average lender close to the highest levels sin...
Fri, Jun 28 2024, 5:48 PM
The week began with a distinct absence of interest rate volatility, but things changed in a big way by Friday--at least compared to the previous week ...
Thu, Jun 27 2024, 4:20 PM
Mortgage rates rose at the fastest pace in 2 weeks yesterday, but that wasn't a very tall order considering an almost perfect absence of movement lead...
Wed, Jun 26 2024, 3:37 PM
After operating in an exceptionally narrow range since the beginning of last week, mortgage rates finally started doing something a bit different toda...
Tue, Jun 25 2024, 2:36 PM
Mortgage rates have been flatter than the earth according to the flat earth society. Much like the actual earth in many areas in the middle of the co...
Mon, Jun 24 2024, 3:26 PM
Most mortgage lenders offer mortgage rates in increments of 0.125% (i.e. 6.875, 7.0, 7.125, 7.25, etc.). As such, a particularly notable day of mortg...
Fri, Jun 21 2024, 4:37 PM
After a rocky start to the year, things began to improve for rates and the inflation outlook in May. June took the improvement to the next level, but ...
Thu, Jun 20 2024, 3:12 PM
The bond market was closed on Wednesday for the Juneteenth holiday. As such, mortgage lenders were either closed or unable to update mortgage rates b...
Tue, Jun 18 2024, 3:36 PM
Mortgage rates began the week with a modest move back up and over the 7% threshold, but managed to erase some of those losses today. The improvement ...
Mon, Jun 17 2024, 4:20 PM
Mortgage rates moved modestly higher to start the new week. With the average top tier 30yr fixed rate just under 7% on Friday, this meant a move to j...
Fri, Jun 14 2024, 3:27 PM
Today saw the average conventional 30yr fixed rate rise ever so slightly for top tier scenarios. Most lenders are still quoting those scenarios just ...
Thu, Jun 13 2024, 3:35 PM
You'd have to go back to March 28th to see the average mortgage lender offering a lower rate on a top tier, conventional 30yr fixed scenario than they...
Wed, Jun 12 2024, 4:10 PM
It was an incredibly high consequence day for the bond market and, thus, mortgage rates due to the confluence of two extremely important events. The ...
Tue, Jun 11 2024, 3:30 PM
Today's mortgage rates were fairly close to yesterday's at the average lender for the 3rd business day in a row. Friday was the last day with any sub...
Mon, Jun 10 2024, 3:02 PM
There's been a noticeable uptick in mortgage rate volatility over the past two weeks with a quick spike at the end of May, a nice drop in early June a...
Fri, Jun 7 2024, 3:32 PM
There's a strong case to be made for the fact that interest rates had a sunny predisposition this week. In practical terms, that simply meant giving ...
Thu, Jun 6 2024, 4:00 PM
The outcome of certain economic reports will determine whether the next big move in interest rates is higher or lower. Two reports are more important...
Wed, Jun 5 2024, 3:46 PM
The phrase "data dependent" is ingrained in the current bond market psychology for good reason. Weaker trends in economic data will reliably cause th...
Tue, Jun 4 2024, 4:18 PM
For most lenders, you'd still see modestly lower rates on several days in mid May, but apart from that, you'd need to go all the way back to early Apr...
Mon, Jun 3 2024, 3:23 PM
Mortgage rates had a rough go of it in the 4 days following Memorial Day weekend (i.e. last week). To be fair, the tough part was limited to the first...
Fri, May 31 2024, 4:08 PM
This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher ...
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