Mortgage Rates Move Lower After Weak Service Sector Report

"Data dependent" is one of the most common phrases heard from the Federal Reserve these days when it comes to rate-setting policy.  And while the Fed doesn't directly dictate mortgage rates, the bond market tends to trade the same data that the Fed cares about. Today's key report, the ISM Servi

Mortgage Rates Finally Find a Ceiling, For Now

As is often the case with internet headlines these days, the headline overstates the reality on the ground--or at least over-dramatizes it.  Considering the last notable "ceiling" was seen less than a month ago and that the last short term ceiling, less than a week ago, the word "finally" proba

Mortgage Rates Near Highest Levels in More Than a Month

Mortgage rates continued their frustrating and somewhat perplexing move higher today, thus bringing the average lender close to the highest levels since the end of May.  Rising rates are always frustrating for those the housing/mortgage markets and prospective borrowers, but an ebb and flow is

Mortgage Rates Steady to Slightly Lower

Mortgage rates rose at the fastest pace in 2 weeks yesterday, but that wasn't a very tall order considering an almost perfect absence of movement leading up to that.  Now today, a good amount of that small amount of damage has been undone. Bonds responded favorably to this morning's economic da