Rates Drop to Another Long-Term Low After Fed Announcement

The Fed didn't cut rates today and rates then moved quickly lower.  Naturally, there's more to the story than that, but the paradox is a good reminder that the market reacts in real time to things that won't happen for months.   Specifically, the Fed's next meeting isn't until Septemb

Mortgage Rates Trickle to New 6 Month Low Before Fed Announcement

Mortgage rates began the day with the average lender quoting just slightly higher rates compared to yesterday's latest levels.  By the end of the day, however, that average had fallen to its lowest level in more than 6 months, even if only by the thinnest of margins. Rates are driven by movemen

Mortgage Rates Start Week at 6 Month Lows

Although the range has been very narrow for the past few weeks, average mortgage rates nonetheless fell to the lowest levels in more than 6 months.  Top tier conventional 30yr fixed scenarios are well into the high 6's now, with our proprietary daily average at 6.81, matching the levels seen on

Inflation Data Continues Paving The Way For (Eventual) Rate Cuts

This week's most important economic data was the PCE price index which is the gold standard of big picture inflation measurement. For those hoping to see rates drop, it was important for PCE to confirm the progress seen in the CPI data (the other major inflation index that came out 2 weeks ago).&nbs