Plenty of Rate Volatility Despite Holiday-Shortened Week

This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher almost immediately. It's often said that the bond market can experience elevated, seemingly random volatility amid the lighter trading participation s

Mortgage Rates Break 5 Day Losing Streak, But Remain Elevated

If we overlook the nearly unchanged performance from last Friday, mortgage rates were on a 5 day losing streak as of yesterday afternoon with the 30yr fixed rising about a quarter of a percent.  That streak ended today as the bond market responded to favorable inflation data and tame comments f

Mortgage Rates Much Higher Over The Past 2 Weeks

Mortgage rates most recently bottomed out on May 15th with the average top tier conventional 30yr fixed scenario being quoted just a hair under 7.0%.  It's been a fairly consistent march higher since then, slowly at first, but more abruptly in the present week. Between yesterday and today alone

Rates Jump to Highest Levels in More Than 3 Weeks

It was a mini rollercoaster of a day for mortgage rates with the average lender starting the day at lower levels than Friday only to end at the highest levels since May 3rd.  The weakness was driven by a combination of economic data, comments from Fed officials, and weaker US Treasury auctions.