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...
Tue, Jan 24 2023, 4:31 PM
Mortgage rates began the day at higher levels than yesterday for the average lender, but the movement was fairly small. Most lenders were still able ...
Mon, Jan 23 2023, 4:15 PM
After hitting the lowest levels in 4 months at times over the past week, rates have drifted up a bit. There hasn't been much rhyme or reason behind t...
Thu, Jan 19 2023, 4:04 PM
If you cross paths with the average mortgage rate article (or tweet/post/etc) today, chances are you'll see some mention of "rates moving lower." Tha...
Wed, Jan 18 2023, 4:28 PM
Mortgage rates moved down at a fairly quick pace today following a slew of rate-friendly headlines. Technically, the headlines were good for the bond...
Tue, Jan 17 2023, 3:39 PM
The holiday-shortened week sees mortgage rates starting out slightly higher when compared to the end of last week. Versus any other day in the past 4...
Fri, Jan 13 2023, 4:50 PM
Mortgage rates officially hit their lowest levels in 4 months after this week's inflation data. Despite the recent progress, Fed officials continue to...
Thu, Jan 12 2023, 4:46 PM
Today brought the scheduled monthly release of the Consumer Price Index (CPI). Of all the monthly economic reports, this one has had the biggest impa...
Wed, Jan 11 2023, 3:31 PM
Mortgage rates are based primarily on the prices and yields of bonds. Bonds take cues from several places, but always from inflation and the economy-...
Tue, Jan 10 2023, 3:51 PM
After coming close to the lowest levels in 4 months yesterday, mortgage rates bounced slightly higher today. There's never any way to know exactly wh...
Mon, Jan 9 2023, 3:43 PM
Last Friday was a great day for mortgage rates with two important economic reports helping the bond market make serious gains (read more). Mortgage le...
Fri, Jan 6 2023, 4:50 PM
The Federal Reserve (aka "The Fed") has a parrot problem, and it's on a crash course with economic reality... maybe. The Fed sets policies that impac...
Thu, Jan 5 2023, 3:32 PM
The most basic way to think about interest rate movement is to assume that a strong economy pushes rates higher and vice versa. There are many other ...
Wed, Jan 4 2023, 4:11 PM
There are Fed Announcements, which involve rate hikes/cuts, press conferences, and updated rate forecasts after a 2 day meeting among Fed members. An...
Tue, Jan 3 2023, 4:00 PM
The bond market (which determines mortgage rates) has officially endured the frustratingly unique holiday trading environment that often creates undue...
Fri, Dec 30 2022, 1:12 PM
So long 2022! Don't let the door hit you. You were the worst year for mortgage rates that most of us have seen in our lifetimes in terms of the pace...
Thu, Dec 29 2022, 3:28 PM
Mortgage rates began the day very close to yesterday's latest levels. The average lender was just a hair higher. As the day progressed, US bonds fol...
Wed, Dec 28 2022, 3:10 PM
Up until just the past few weeks, the go-to headline to quantify the pace of recent mortgage rate movement tended to reference rates being the lowest ...
Tue, Dec 27 2022, 5:28 PM
Mortgage rates are based on trading in the bond market and it's a frustrating time of year for those seeking a rational relationship with bonds. In t...
Fri, Dec 23 2022, 1:10 PM
The last two weeks of December are unlike almost any time of year in terms of market movement and what we should read into it, but there were several ...
Thu, Dec 22 2022, 2:58 PM
Rates have calmed down after some unfortunate and unexpected volatility at the beginning of the week. The average lender is offering just slightly hi...
Wed, Dec 21 2022, 4:36 PM
The headline could be read two ways. To be clear, the "recent rise" refers to Monday and Tuesday of this week. Before that, mortgage rates spent the...
Tue, Dec 20 2022, 4:26 PM
What a difference a few days have made for mortgage rates, and in this case, not a good difference. The average lender was offering the lowest rates ...
Mon, Dec 19 2022, 3:52 PM
As much as it may seem that financial markets are driven by machines and code, human beings are still critical to day to day functioning. This is esp...
Fri, Dec 16 2022, 5:12 PM
It was a critical week for financial markets and especially for rates as investors digested the latest inflation data and the Fed's smaller rate hike....
Thu, Dec 15 2022, 3:45 PM
Mortgage rates are based primarily on the bond market (specifically, mortgage-backed securities or MBS). When MBS improve, lenders are creating loans...
Wed, Dec 14 2022, 5:48 PM
It's often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no further conseque...
Tue, Dec 13 2022, 4:49 PM
There aren't many scheduled economic reports that are as hotly anticipated as was today's Consumer Price Index (CPI). The market's reaction more than...
Mon, Dec 12 2022, 3:59 PM
The week began in fairly uneventful fashion for mortgage rates, at least in the bigger picture. In the smaller picture, there was a modicum of drama ...
Fri, Dec 9 2022, 7:07 PM
Tuesday December 13th is the day many people have been waiting for ever since Thursday November 10th. What do those two days have in common? They each...
Thu, Dec 8 2022, 4:08 PM
Mortgage rates have been remarkably well behaved since the November 10th release of the last Consumer Price Index (CPI), the monthly inflation report ...
Wed, Dec 7 2022, 4:49 PM
Mortgage rates moved moderately lower today after new economic data showed a big drop in the cost of labor in Q3. Labor costs are one of the places t...
Tue, Dec 6 2022, 4:57 PM
This week continues to be a placeholder ahead of more consequential events coming up in the week ahead. Specifically, next Tuesday and Wednesday's co...
Mon, Dec 5 2022, 4:08 PM
Mortgage rates ended last week very close to their lowest levels in more than 2 months after Fed Chair Powell essentially confirmed next week's rate h...
Fri, Dec 2 2022, 3:48 PM
As far as financial markets are concerned, a green Christmas is better than anything Bing Crosby could have crooned about. Green is the color that fla...
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