Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So

Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates.  Thursday added a bit more insult to the injury.  The resulting levels were the highest since November 2023.  We should be thankful, then, that Friday managed to push back in the o

Mortgage Rates Are Actually The Highest Since Mid November

Wednesday's Consumer Price Index caused a brutally fast spike in mortgage rates.  It wasn't notable for taking us to exceptionally high levels (October 2023 was much higher), but it was one of the biggest single-day jumps.  Either way, it easily took the average lender back to highest leve

Basically The Worst Day For Mortgage Rates Since October 2022

Mortgage rates surged at a pace seen only one other time since October 2022.  The average lender moved up by 0.28%, which is functionally equivalent to the 0.29% seen after the February 2nd jobs report.  In fact, today was arguably worse because the Feb 2nd example happened a day after rat

Decent Recovery For Mortgage Rates, But Huge Volatility Potential Ahead

Mortgage rates roughly matched their highest levels in months yesterday, but managed to turn things around today.  One could argue that the broader bond market (which dictates rates) began to turn things yesterday morning and that the only reason rates moved higher was the overnight bond market