Mortgage Rates Follow Oil Prices Lower

Fuel prices continue dictating most of the day-to-day momentum for interest rates and today was a notable example. Early this morning, news reports suggested progress in the peace process via Pakistani mediators. Oil prices dropped sharply in response and bond yields followed the move. Bond yields c

Mortgage Rates Drift Modestly Higher

For all practical purposes, Friday's mortgage rates were unchanged versus Thursday's, but if we're splitting hairs, the average lender rose 0.01% to 6.77% for a top tier 30yr fixed.  While many news outlets continue focusing on the mid-week announcement regarding Treasury's bond buyback program, tod

Highest Mortgage Rates in Just Over a Week

While Freddie Mac's weekly mortgage rate survey may show rates moving slightly lower this week, today's rates are actually higher than they were at the same time last week (6.76% vs 6.69%). Financial news continued to focus on yesterday's announcement of Treasury buybacks after Secretary Bessent spo

Why Mortgage Rates Didn't Fall as Much as 30yr Bonds Today

Mortgage rates dropped on Wednesday due to a combination of lower oil prices and the announcement of changes to Treasury's bond buyback program. The oil price angle is easy to understand. Throughout the war, higher fuel prices have caused volatility in inflation expectations and inflation is a criti