Mortgage Rates Briefly Over 7% Before Mid-Day Improvement

Mortgage rates jumped sharply over the weekend as financial markets reacted to Moody's credit rating downgrade of the U.S.  News of the downgrade broke with only minutes left in Friday's market/business day, so most of the response played out when global markets opened again late last night. Th

Mortgage Rates End Week Only Slightly Higher After Decent Recovery

The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%.  That's a victory--albeit a small one--after hitting 6.99% on Wednesday. As always, these rates refer to an index representing broad industry averages for best-case s

Mortgage Rates Catch a Break

Mortgage rates have done almost nothing but move higher in the month of May. The latest bump--seen yesterday--took the average top tier 30yr fixed rate to 6.99%. While this is fairly uneventful in the bigger picture, it was a noticeable increase from the 6.81 seen at the end of April, or the slightl

Mortgage Rates Rising Closer to 7%

In early April, amid the most volatile portion of the market's reaction to the tariff announcement, mortgage rates were officially over 7% for a single day. By the middle of the following week, they were well on their way lower, ultimately ending the month just over 6.8%. Since then, it's been tough