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It was a complicated day for mortgage rates.  Officially, at the time of this article, the average top tier 30yr fixed rate is a hair lower than it was yesterday.  But rates are based on bonds and bonds are telling a different story. In the wake of the release of the minutes from the most […]

With economic data being the most consistent source of motivation for rates, the market has been eager for it to return with the reopening of the government. While some higher profile reports have been rescheduled for the coming days (i.e. on Thursday, we’ll get the jobs report that we were supposed to get in early

The bond market (which dictates rates) was roughly unchanged over the weekend. As such, it’s no surprise to see mortgage rates right in line with Friday’s latest levels. For the average lender, this means conventional 30yr fixed rates are at the upper boundary of a narrow range stretch back to September 4th. It was the

(Bloomberg) — Former Federal Reserve Governor Adriana Kugler, whose abrupt resignation allowed President Donald Trump to install an ally at the central bank, violated Fed ethics rules and was subject to an internal probe when she stepped down in August, documents released Saturday showed. In her final weeks at the Fed, Kugler sought to address

Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right in line with 2-month highs. Bonds (which dictate rates) began the day with promise. There was heavy buying (good for rates) in the 7am hour. This coincided with stocks challenging their

Mortgage rates rose somewhat sharply following the late October Fed meeting but have been in a relatively narrow range so far in November.  The range is so narrow, in fact, that yesterday’s average rate was at the bottom of that range while today’s rate is closer to the highs. Given the minimal overall movement, there’s

Mortgage rates are based on bond market movement and bonds are much stronger today compared to Monday. Although bonds were closed yesterday for the Veterans Day holiday, there was an important piece of economic data that suggested lower rates today. The data in question was the new weekly payroll count from ADP. Whereas October’s monthly

Mortgage rates went into the weekend with a small cushion thanks to movement in the bond market on Friday. Specifically, bonds improved after mortgage rates came out for the day. If the improvement had been sharper, mortgage lenders likely would have made a mid-day adjustment to slightly lower levels. The implication was that rates would

Wednesday’s mortgage rates were the highest in roughly a month and very close to the highest levels in 2 months.  This followed stronger economic data on that same morning. Rates moved back down yesterday after separate econ data told a different story. Now on Friday, it’s a mixed bag. The underlying bond market was slightly

As of yesterday afternoon, mortgage rates were right in line with the highest levels in more than a month. The upward momentum was largely a product of 2 specific days: the October 29th Fed announcement and yesterday’s duo of economic reports that suggested less cause for concern over the labor market and strength of the