Interest Rates

Mortgage rates jumped sharply over the weekend as financial markets reacted to Moody’s credit rating downgrade of the U.S.  News of the downgrade broke with only minutes left in Friday’s market/business day, so most of the response played out when global markets opened again late last night. The initial reaction involved stock prices moving lower […]

The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%.  That’s a victory–albeit a small one–after hitting 6.99% on Wednesday. As always, these rates refer to an index representing broad industry averages for best-case scenarios. Individual lenders and scenarios

Mortgage rates have done almost nothing but move higher in the month of May. The latest bump–seen yesterday–took the average top tier 30yr fixed rate to 6.99%. While this is fairly uneventful in the bigger picture, it was a noticeable increase from the 6.81 seen at the end of April, or the slightly lower range 

In early April, amid the most volatile portion of the market’s reaction to the tariff announcement, mortgage rates were officially over 7% for a single day. By the middle of the following week, they were well on their way lower, ultimately ending the month just over 6.8%. Since then, it’s been tough sledding for bonds

Tuesday brought the release of an economic report that has frequently been responsible for big swings in mortgage rates. The Consumer Price Index (CPI) is the earlier of the two big inflation reports from the US government, and inflation is a big deal for interest rates.  In general, higher inflation coincides with higher rates and

Tariffs and trade policy have been a new and important consideration for the bond market for just over a month now. That matters to mortgage rates because mortgage pricing is primarily determined by bond prices.   The reaction function for rates is a bit complicated at first glance because tariffs can exert influence in opposite directions.