We love it when a plan comes together. Heading into yesterday’s Fed announcement, the hope was that a rate hike would reassure investors in longer-term bonds (like those that underlie mortgage rates). We also didn’t expect that benefit to necessarily play out on the day of the hike itself (it didn’t). In fact, Fed day […]
Mortgage Rates Back Near Lows of The Week Read More »
We’d be the first to remind you that mortgage rates are primarily determined by trading levels in the bond market–specifically those for mortgage-backed securities (MBS). That said, there are days where rates don’t do exactly what MBS suggest. Today was one of them. According to the bond market, mortgage rates should have been much higher
Mortgage Rates Only Modestly Higher Despite Bond Market Losses Read More »
On average, the top-tier 30yr fixed mortgage rate moved up to another new long-term high today of 7.17%. You’d have to go back to January, 2025 to see anything higher. That said, there’s more variability than normal today depending on the lender. Bonds (which dictate rates) were at their weakest levels of the day right
Mortgage Rates Start Higher, But Some Lenders Recovered Read More »