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Mortgage rates are based on bond market movement and bonds are much stronger today compared to Monday. Although bonds were closed yesterday for the Veterans Day holiday, there was an important piece of economic data that suggested lower rates today. The data in question was the new weekly payroll count from ADP. Whereas October’s monthly […]

Mortgage rates went into the weekend with a small cushion thanks to movement in the bond market on Friday. Specifically, bonds improved after mortgage rates came out for the day. If the improvement had been sharper, mortgage lenders likely would have made a mid-day adjustment to slightly lower levels. The implication was that rates would

Wednesday’s mortgage rates were the highest in roughly a month and very close to the highest levels in 2 months.  This followed stronger economic data on that same morning. Rates moved back down yesterday after separate econ data told a different story. Now on Friday, it’s a mixed bag. The underlying bond market was slightly

As of yesterday afternoon, mortgage rates were right in line with the highest levels in more than a month. The upward momentum was largely a product of 2 specific days: the October 29th Fed announcement and yesterday’s duo of economic reports that suggested less cause for concern over the labor market and strength of the

A common recent refrain is that the bond market (which dictates interest rates) is having to make do without many of the most important regularly-scheduled economic reports due to the government shutdown. While this means rates must “fly blind” on many of the days that would normally coincide with these government economic reports, there are

The average top tier 30yr fixed mortgage rate was technically 0.01% higher than yesterday, but that’s the smallest possible detected move.  It’s just as fair to say rates held steady today. While it’s always nice to avoid a more serious rate spike on any given day, by holding flat, rates are remaining in line with

Dear Readers, Next week, we’ll be introducing the redesigned National Mortgage News home page, a transformation inspired by how today’s mortgage industry professionals learn, connect, and grow. Our goal was simple: to make it easier for you to access everything National Mortgage News has to offer. While our award-winning journalism remains at the heart of

Up until last week’s Fed announcement, the average 30yr fixed mortgage rate was at the lowest levels in more than a year (in many cases, matching the same lows seen on September 16th–the day before the previous Fed announcement). Although these past 2 post-Fed episodes have resulted in somewhat volatile bounces, rates are still far

After hitting the highest level in several weeks on Thursday, mortgage rates managed to move moderately lower on Friday. Counterpoint: Friday’s rates are still the 2nd highest of the past 2 weeks and still meaningfully higher than last Friday’s (6.28% vs 6.19% in terms of MND’s rate index). The improvement makes it clear that lenders