Please Forget Everything You Think You Know About Fed Rate Cuts

Mortgage rates spent the entire month of October moving higher at a fairly quick pace.  Some of that had to do with stronger economic data, but at least as much had to do with the bond market adjusting to election probabilities.  As we've been advising in recent weeks, the consensus was th

Mortgage Rates Start Higher, But Fall in Afternoon

More often than not, mortgage lenders only set rates once a day. Their decisions are based on trading levels in the underlying bond market.  Even though bonds are constantly moving, it doesn't make sense for lenders to make a change unless a certain threshold of market movement is surpassed.&nb

Mortgage Rates Start Week Slightly Lower as Election Volatility Works Both Ways

Love it or hate it, election-related volatility has been having a big impact on the bond market and, thus, mortgage rates.  Most of the volatility has resulted in higher rates, but there was an exception over the weekend.  Due to a combination of shifting odds in betting markets and among

Rates Refuse to Drop Ahead of Election. How About After?

It is our longstanding policy to strictly avoid politics except in cases where the political realm legitimately intersects with relevant events for rates. Now is clearly one of those times. The discussion that follows contains no opinion or partisan leaning. Before getting started, let's catch up wi