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Today was not a foregone conclusion and there was no way to know ahead of time that it would end like this, but the outcome is exactly why we’ve gone to such lengths to warn you about the potentially paradoxical reaction to a Fed rate cut.  Too many people repeat the fallacy that mortgage rates […]

Lowest Rates in a Year. Tomorrow’s Fed Announcement Could Push Them in EITHER Direction Rates have been flirting with long term lows over the past 2 weeks, but today made it official.  Today’s average top tier 30yr fixed rate perfectly matched that seen on September 16th, 2025.  That’s the lowest it’s been since September 2024,

Mortgage rates fell to the lowest levels in a month last Tuesday and barely budged through the rest of the week. Now, at the start of the new week, the average lender is perfectly unchanged from last Friday. This means there are only a small handful of days with meaningfully lower rates going all the

Dear Readers, The reporting team at National Mortgage News strives to give you accurate, up-to-the-minute information on what’s happening in the mortgage lending space. Unfortunately, we accidentally published inaccurate numbers in the reporting on Waterstone Mortgage’s Q3 earnings and so have corrected the report to properly reflect their performance. See the updated story here: Waterstone

This morning brought the release of the much-anticipated Consumer Price Index (CPI). This is one of the two biggest inflation reports from the U.S. government, and the only government inflation report that’s coming out during the shutdown.  With big government data being a key consideration for interest rates, this special release got extra attention. Core

Mortgage rates were effectively unchanged on Thursday with the average lender very close to the best levels in over a year. But when it comes to the underlying bond market and the rates available to consumers, there are some dislocations that suggest risk is increasing. Specifically, bonds lost ground today. This normally implies higher mortgage

Mortgage rates were perfectly unchanged today, on average.  With that, they remain in line with the lowest levels in more than a year and very close to the lowest levels in more than 3 years.  Recent momentum has been moderate and favorable. In the absence of big economic reports that are on hold due to

The bonds that underly mortgage rates were only slightly stronger today, but that’s never a bad thing when they closed near the best levels in a year the previous day. Additionally, those bonds improved by the end of the day yesterday, meaning that mortgage lenders were going into today with a bit of a cushion.

Mortgage rates ended last week at the lowest levels in just over a month. It was the 3rd best day in over a year and the 24th best day in over 3 years. The other 23 days weren’t too much lower either. The only difference today is a microscopic improvement that makes it the 2nd

The average top tier 30yr fixed rate was unchanged on Friday despite the bond market being slightly weaker. Normally, weaker bonds mean higher rates, but the timing of intraday market movement matters. In today’s case, bonds are still much stronger than the first half of yesterday, and only weaker when compared to closing levels. Because