Economic Data Keeping Pressure on Mortgage Rates

The jobs report that came out at the beginning of October was a big wake up call for interest rates.  Up until then, the prevailing belief was that the labor market was progressively softening and perhaps at risk of softening too quickly.  The Federal Reserve had singled out the jobs marke

Mortgage Rates Hit Another Multi-Month High Despite Afternoon Recovery

Mortgage rates tend to be updated only once per day.  Lenders set rates based on trading levels in mortgage-backed securities (MBS) which are essentially bonds that are tied to cash flows from groups of mortgages.  MBS move throughout the day much the same way that US Treasuries do. 

Mortgage Rates Back to 7%

It's no mystery that mortgage rates have had a terrible October.  As of last Friday, the average lender's top tier 30yr fixed rates were up to 6.90--an increase of more than 0.625% this month.  Today's 0.10% increase brings the rate index up to 7.0% exactly which is the highest we've seen

Mortgage Rates Effectively Unchanged Yet Again

Mortgage rates reached their highest level of the week on Wednesday and haven't really moved since then.  Technically each subsequent day saw a microscopic reduction in the average top tier 30yr fixed rate, but the average borrower would likely be seeing the same quote all three days. This flat