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Mortgage Rates Move Slightly Higher to Start New Week

Mortgage rates rose modestly last week after hitting long term lows before the Fed announced its 0.50% rate cut.  In not so many words, mortgage rates had already gotten in position for that cut and were thus left to undergo a mild correction. The new week threatens to extend that corrective mo

The Wild Week That Wasn't

Credit where credit is due: the rate market did an outstanding job of getting out in front of the Fed rate cut as well as the changes to the Fed's rate cut outlook as communicated in the summary of economic projections (SEP).   The SEP contains the proverbial "dot plot" that shows each Fed

Mortgage Rates Are Actually HIGHER This Week

Today's release of Freddie Mac's Primary Mortgage Market Survey took at bad problem and made it worse.  Freddie's survey methodology means that today's reported rate is an average of the 5 days leading up to yesterday.  The first few days in that time frame indeed saw the lowest rates in m