Mortgage
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 […]
Mortgage Rates Modestly Lower, But Hoping For More
At this point, no one should be surprised to hear that mortgage rates have moved significantly higher in 2021–especially in the past few weeks. There are several reasons for this, but the easiest way to make sense of it all is to say “rates were ultra low when covid was at its worst and they’ve […]
Mortgage Rules Toughen Up for Condos in Vacation Hot Spots
The new rules could make it tougher for some buyers to get a mortgage on condos in resort areas. www.nar.realtor – Vacation, Resort, and Second Homes
Why Mortgage Rates Should Care About Bond Market Warning
After spiking in early January, interest rates returned to near-all-time-low levels by the middle of the week. By the end, however, the market began to flash a warning about more volatility ahead. The warning is fairly simple. It has to do with a pattern that’s been repeating in the bond market (the key ingredient in […]
Mortgage Rates Start Strong But End Higher
Mortgage rates have had a great couple of weeks after jumping to multi-month highs at the beginning of January. By yesterday, they’d made it almost all the way back to their best recent levels. The same was true this morning, but things have changed since then. The bond market (which dictates rates) had its worst […]
Mortgage Rates Making Steady Progress Over The Past Week
Mortgage rates are off to a decent start this week with the average lender offering slightly better terms compared to last Friday. The progress actually began earlier last week. On Tuesday morning, rates were at their highest levels in exactly 2 months after jumping at a relatively quick pace in response to the Georgia senate […]
The Real Story Behind The Past 2 Weeks of Mortgage Rate Volatility
It was easy to get lulled into complacency by the second half of 2020 when it came to mortgage rates. Even as other indicators said rates should be rising, they continued on a calm journey to multiple record lows. 2021 has been very different so far! Covid and its impacts on the economy remain the […]
Mortgage Rates Closing Out The Year at Record Lows
For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]
Mortgage Rates Edge Higher From Long-Term Lows
Mortgage rates hit another all-time low on Friday for most lenders. Other lenders had slightly lower rates yesterday morning. Since then however, almost every lender has moved up from those lows, even if only by microscopically small amounts in the bigger picture. Purchases and refinances continue to be offered at vastly different rates. The gap […]
Mortgage Rates Surge After Powell Comments
Posted To: Mortgage Rate Watch Mortgage rates jumped quickly today after Q&A session with Federal Reserve Chair Jerome Powell. What did he say to cause such drama? Actually, it’s more about what he didn’t say. For some reason, market participants were expecting (or at least hoping) that Powell would say something to address the recent […]