Mortgage Rates Bounce Back Toward Recent Highs

Mortgage rates gave back the improvement seen last Thursday and broke above last Wednesday's levels to hit the highest mark since June 10th. This isn't a big range in the bigger picture, but it does leave rates near 10-month highs. The move is also a bit counterintuitive given developments in other

Mortgage Rates Stage Decent Recovery of Post-Fed Losses

Mortgage rates spiked yesterday after the Fed announcement. The primary driver was the Fed's revised outlook for potential rate hikes later this year. Because the Fed Funds Rate governs ultra-short-term transactions (24hrs or less), it has the biggest impact on the shortest-term debt and a diminishi

Mortgage Rates Spike in Response to Fed

Mortgage rates quickly erased a week of progress this afternoon following the Fed announcement and press conference. Fed announcement day historically has several components: the announcement itself, the summary of economic projections (SEP), and the press conference.  Within the SEP, there is the d

Mortgage Rates Lowest Since May 14th

Today's top tier 30yr fixed rate was 6.54% for the average lender. You'd have to go back to May 14th's reading of 6.52% to see anything lower. The latest improvement follows another moderate drop in oil prices and bond yields as global markets digest the U.S./Iran peace deal. There's still some risk