Mortgage Rates Inch to Another 6-Week Low

Mortgage rates ended last week at the lowest level since May 14th. Most of the recent drop happened last Wednesday, but each day since then has added a microscopic improvement. Today was no exception with the 30yr fixed rate index falling a mere 0.01%--the lowest increment we measure. The calendar o

Lowest Mortgage Rates Since May 14th

Mortgage rates had a great day yesterday, moving within 0.01% of the lowest levels in more than a month. They dropped just a bit more today and are now officially the lowest they've been since May 14th.  Today's improvement was more of an afterthought, but nonetheless helps legitimize yesterday's he

Mortgage Rates Quickly Approaching 1-Month Lows

Rate momentum shifted noticeably on Wednesday. The underlying bond market saw heavy buying in pre-market trading--likely a result of large-scale quarter-end rebalancing among the largest money managers (i.e. adjusting balance of stocks vs bonds in investment portfolios). Excess demand for bonds = lo

Rates Hold Mostly Steady Despite Bond Market Improvement

Mortgage rates may be based directly on the bond market, but the two don't always move in perfect lock-step. Today was a good example of that. Bonds improved enough for rates to move modestly lower according to typical correlation. Instead, the average mortgage lender improved by the smallest possib