Highs

Rates at 3-Week Highs, More Volatility Ahead

Rates were excellent at the beginning of the week, but that began to change on Wednesday. We were already well on our way to 3-week highs on Thursday, and Friday made it official. Notably, these 3-week highs are still historically low. Friday’s main source of drama was the strong jobs report from the Labor Department. […]

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Underwater Homes Drying Up; Forbearances Decline; 3-Week Mortgage Rate Highs

Thanks to rising home prices. hardly any homeowners find themselves underwater on their mortgages and the few that do are concentrated in a few cities and towns. In fact, ATTOM says that more than one-third of mortgaged homes in the country are considered “equity rich” with a combined loan-to-value (CLTV) ratio below 50 percent. The […]

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Mortgage Rates End Week Near 1-Year Highs

Today ended up being fairly uneventful for mortgage rates –a welcome reprieve in the context of recent volatility. Actually, “volatility” is putting it mildly. 2021 has been a total rout for longer-term rates, even if 30yr fixed mortgages in the low-to-mid 3% range are historically excellent. That “historical context” argument is good perspective for the […]

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BLS: July Unemployment rates down in 30 states; 3 States at New Series Highs

From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were lower in July in 30 states, higher in 9 states, and stable in 11 states and the District of Columbia , the U.S. Bureau of Labor Statistics reported today. All 50 states and the District had jobless rate increases from a year […]

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