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Mortgage rates are based on bonds and bonds take cues from economic data. Employment-related data is particularly important. The monthly jobs report from the Department of Labor is in a league of its own in that regard, and while we won’t get that this week due to the shutdown, this morning brought the release of […]

Mortgage rates were just barely lower this morning versus yesterday’s latest levels, but most borrowers won’t see any major difference from any of the past 7 business days. Additionally, some lenders issued mid-day changes, giving rates a slight bump in response to weakness in the bond market. With a government shutdown looking increasingly likely, traders

It was an uneventful day for the bond market (and, thus, interest rates) as investors wait for clarity on this week’s potential government shutdown. It’s not the shutdown itself that would notable. Rather, it would be the absence of this Friday’s jobs report (published by the Federal government) as it would deprive the rate market

Last week was a wild one for mortgage rates with the lowest levels in nearly a year on Monday and an abrupt spike after Wednesday’s Fed announcement.  The present week has been completely different with each day seeing minimal change compared to the previous session.  Today was no exception. This was actually a logical outcome

Thursday was the first day of the week with any meaningful economic reports. This is important to mortgage rates because economic data influences the bonds that determine day-to-day changes in rates.  In general, stronger data is bad for rates and today was no exception.   While today’s GDP data was for Q2 (and thus fairly stale),

Over time, mortgage rate movement lines up almost perfectly with movement in the underlying bond market, but there can be day to day discrepancies depending on the timing of market volatility. Think of mortgage rates like a restaurant that adjusts menu prices daily depending on the price of ingredients. Sometimes, ingredient prices will change significantly

Mortgage rates are based on bonds and bonds take their most important cues from big ticket economic reports. But such reports have been in short supply so far this week. Instead, the market has been left to focus mainly on speeches from various Federal Reserve officials. Fed speeches can certainly have an impact, but it

After hitting the lowest levels in nearly a year (and nearly the lowest levels in 3 years) last Tuesday, rates lurched higher following Wednesday’s Fed announcement.  While the Fed cut rates as expected, and while the Fed’s rate forecasts were well-received, Powell’s guidance pushed back in the other direction.  Economic data on Thursday morning made

Officially, our daily mortgage rate index is a hair lower today than it was yesterday. Your mileage may vary depending on the lender in question. Reason being: some lenders offered mid-day improvements yesterday, but not enough to impact our index.  Those same lenders are generally a hair higher today, but again, the average lender is

Katie Sweeney, a prominent broker advocate, is disputing accusations by her former organization that she directed almost $1 million in payments to herself. The Association of Independent Mortgage Experts raised the claim in response to its former leader’s lawsuit suggesting the trade group owes her money. The sides have traded allegations since Sweeney sued AIME