Mortgage rates were crushed by today’s jobs report. Nonfarm payrolls (the main component of the report), came in significantly higher than expected (353k vs 180k…
Home Refinancing is Easy
“Long-term” is a subjective measurement, but in this case, it refers to the the past 7 or 8 months. Today’s mortgage rates dropped to levels…
This is a challenging day to attempt to understand the relationship between events and rate movement. At the most superficial level, rates are much lower…
Mortgage rates inched gently lower yet again today. That’s the 4th day in a row without moving higher, but it’s just as fair to say…
Mortgage rates are in the midst of a bit of a winning streak, but it’s about as small and as neutral as winning streaks get. …
Over the past 2 months, speculation ramped up quickly regarding the pace and magnitude of Fed rate cuts in 2024. Next week brings the first…
The average top tier conventional 30yr fixed rate hit its highest level in exactly 6 weeks yesterday. Today’s movement was in the opposite direction. Rates…
Today’s mortgage rate recap is remarkably similar to yesterday’s. Rates rose modestly from levels that were already near recent highs, thus technically setting another “highest…
Remarkably little happened in the bond market today. That means that mortgage lenders shouldn’t have any obvious motivations to make big changes to their rates,…
The bond market (which dictates interest rates) hasn’t had too many Mondays so far in January due to the holiday calendar. Today’s example might have…