Rates
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 […]
Home Prices Still Soaring; Rates Closing Out 2020 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 […]
Mid-Month Forbearance Pattern Repeats; More On Mortgage Rates’ Ticking Clock; Freddie Adopting SOFR
There was an increase in the number of loans in forbearance over the last week as the share within all lender portfolios, even the GSEs’, moved higher. Black Knight said, however, that an uptick in mid-month has become common, generally driven by fewer borrowers exiting their plans. This was true this past week as well. […]
Mortgage Rates Well-Protected From Jobs Report Volatility
Posted To: Mortgage Rate Watch Tomorrow brings the month’s most important economic report: the Employment Situation, often referred to simply as “the jobs report.” No other piece of economic data has remotely the same track record of inspiring movement in the bond market (which, in turn, inspires movement in interest rates). But not all interest […]
Rates Surprisingly Steady Despite Market Drama; Home Price Gains Break 6 yr Record
Like many industries, housing finance has a superficial layer that’s fairly easy to understand for the average consumer. A person wants a home. They don’t want to pay cash. They get a loan. Lower rates = lower payments. The end. Shortly below that superficial layer of understanding, where a surprisingly high percentage of mortgage professionals […]
Instant Reaction: Mortgage Rates, November 19, 2020
Mortgage rates hit another record low this week for the thirteenth time this year. www.nar.realtor – Research
Mortgage Rates Move Lower Today, But Don’t Count on a Repeat Tomorrow
Mortgage rates were little-changed yesterday–a fact that was ultimately at odds with underlying market movement by the end of the day. What does that mean? Simply put, mortgage rates are primarily determined by the trading prices of certain bonds (MBS, in this case). MBS change every second of the trading day though, so mortgage lenders […]
Mortgage Rates Remain Near Recent Lows
Posted To: Mortgage Rate Watch Mortgage rates were little-changed today, with the average lender only microscopically better than yesterday. That means few loan seekers will notice any difference from yesterday. That leaves us in line with the low rate levels seen immediately following the election earlier this month, and that’s as low as rates have […]
Nice Bounce Back For Mortgage Rates After Rocky Start This Week
Posted To: Mortgage Rate Watch Earlier in the month, mortgage rates rose somewhat abruptly as lenders got in a defensive position ahead of the election. They’d learned in 2016 just how volatile the bond market (the key ingredient in the rate movement equation) could be after an election and it made sense to minimize exposure […]