Mortgage Rates Lower Again As Lenders Catch Up With Bonds

The bond market dictates day to day movement for all manner of interest rates, including mortgages.  On election night, bond yields (another word for "rates") spiked as soon as traders felt the results were evident.  The following morning, mortgage-backed bonds started out much weaker and

Tricky Day... Mortgage Rates Fall Significantly, But Not Because of The Fed

There's a distinct risk that, even in the financial community, that people will look back on today's drop in interest rates and conclude it must have something to do with the Federal Reserve's latest policy announcement.  After all the Fed did cut its policy rate by 0.25% today, and the Fed was

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