Interest Rates

Mortgage rates have generally been falling since May 21st and have done nothing but move lower for more than 2 weeks.  That winning streak finally came to an end today with the average lender moving up 0.06% for a top tier 30yr fixed quote. While that’s a moderately big jump for a single day, if […]

It’s been 88 days since the average 30yr fixed mortgage rate was as low as it is today–close enough to 3 months.  Some lenders may be higher or lower than they were yesterday depending on whether or not changed rates yesterday afternoon. Mortgage lenders prefer to set rates once per day, but can “reprice” if

April 3rd and 4th saw the average top tier 30yr fixed mortgage rates well into the “mid 6’s.”  Many lenders were able to quote 6.5% at the time.  Just a few days ago, we noted there was still a ways to go before breaking below those early April levels, but the past few days have

Friday’s mortgage rates ended up being right in line with Thursday’s on average.  At 6.72%, the MND daily rate index is as low as it’s been since early April when it hit 6.60%. If you’re thinking that 6.72 doesn’t sound much higher than 6.60, you’re right!  Mortgage lenders tend to offer rates in 0.125% increments,

After topping out on May 21st, the average day for mortgage rates has been a good one.  This has been especially true since June 6th with our 30yr fixed index moving down almost 0.25% through this afternoon. Today’s gains contributed nicely with a drop of 0.07%. Normally, we’d point to the economic release calendar to

The average top tier 30yr fixed mortgage rate had already dipped to the lowest levels since May 1st at the start of the week.  Two additional days of modest improvement brings us to the lowest levels since April 4th as of today.   April 4th is probably a day that’s worth remembering.  If rates take out

Yesterday saw mortgage rates fall to the best levels since early May.  Now, today, we’d have to go all the way back to the end of April to find anything lower.  Are the changes massive? Not by a long shot, but it sounds/looks that much better hear/read. This wasn’t destined to be the case today. 

Mortgage rates ended the previous week roughly in line with the best levels since May 1st.  Today’s modest improvement made it official.  Mortgage rates are primarily a function of trading levels in the bond market and bonds have had a few reasons to move at the start of the new week. There’s a small case

With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed.  This means that lenders were not able to update mortgage rates.  It turns out that it wouldn’t have mattered either way as the average lender has barely budged from Wednesday’s levels.  But let’s not miss an

It happens, but it’s rare. A Fed “dot plot” day has come and gone with mortgage rates almost perfectly unchanged from the previous day. This speaks to the level of indecision not only in the market, but also among Fed members. First off, what’s a “dot plot day?”  The dot plot (or simply, “the dots”)