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Today’s mortgage rates a just a hair higher than yesterday’s and although yesterday’s rates were reasonably close to last Friday’s, they were still definitely higher. That last assertion is at odds with some of the mortgage rate media coverage you may encounter today, but there’s a logical reason. Freddie Mac releases its weekly mortgage rate […]

Mortgage rates improved more noticeably today, and while the average rate isn’t quite as low as it was last week, it’s fairly close.  Rates are based on movement in the bond market. Bonds were most likely to move in response to one or both of today’s big economic reports.  Oddly enough, most of the bond

Unlike Monday, which saw a fairly brisk move toward higher rates, Tuesday barely budged. Additionally, the budging occurred in a friendly direction with the average lender offering rates that were just a hair lower than yesterday’s.  Starting tomorrow morning, this week’s potential volatility will be higher. Each day brings several economic reports  with the power

Mortgage rates are based on bonds and the bond market is prone to erratic behavior on major holiday weeks. One of the more common patterns is for the holiday week to see a noticeable departure from a prevailing trend only to return to that trend in the following week.  That’s exactly what we’re seeing on

As is most often the case, the Friday after Thanksgiving added nothing interesting to mortgage rate momentum.  The average lender’s top tier 30yr fixed rate is exactly where it was on Wednesday.  The underlying bond market closes early today, but will be fully open next week.  At that point, we’re likely to see some volatility

Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a hair, but apart from yesterday, these are the lowest levels in a month and very close to the lowest levels in more than 3 years. Bond markets and

Mortgage rates moved nicely lower on Tuesday with the average lender very close to the 2025 lows seen in late October. These levels are effectively right in line with the lowest since late 2022. If today’s drop seems abrupt, that’s because it is. In fact, it’s a bigger drop than the underlying bond market justifies.

Thanksgiving weeks can be weird for mortgage rates. This has to do with the fact that rates are dictated by the bond market and the bond market depends on real live people who can actually be out of the office on holiday weeks. The lighter levels of participation can increase volatility and cause random movement

Recent stock market losses have gotten a lot attention in the news recently. While there’s no reliable correlation between stocks and interest rates, when stock losses are as big as they have been recently, it increases the tendency for rates to move in the same direction.  That was definitely the case today. Bonds (which dictate