Rates Rise on Friday, Now Near 2-Month Highs

Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right in line with 2-month highs. Bonds (which dictate rates) began the day with promise. There was heavy buying (good for rates) in the 7am hour. This coin

Mortgage Rates Near The Top of Recent Range

Mortgage rates rose somewhat sharply following the late October Fed meeting but have been in a relatively narrow range so far in November.  The range is so narrow, in fact, that yesterday's average rate was at the bottom of that range while today's rate is closer to the highs. Given the minimal

Mortgage Rates Only Modestly Lower Despite Bond Market Improvement

Mortgage rates are based on bond market movement and bonds are much stronger today compared to Monday. Although bonds were closed yesterday for the Veterans Day holiday, there was an important piece of economic data that suggested lower rates today. The data in question was the new weekly payroll co

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