Mortgage bonds are sitting up slightly and trying to get some momentum to help get rates back down, but have been stalling out. If bonds can find the momentum to push mortgage rates back down before the close of the market today, we may be able to maintain the low level rates we have enjoyed […]
On May 13th mortgage bonds worsened considerably, causing interest rates to rise around .125%. Talk of inflation had a negative impact on the market as multiple Federal Reserve members made comments about inflation becoming a bigger problem.
Mortgage Rates have been on a roller coaster lately making it very difficult for consumers to determine when the […]
We had two chances to drive interest rates back down and neither seemed to have the effect we wanted.
First was the FOMC Meeting where the fed cut .25%. This resulted in some very very temporary gain in the mortgage bond market but were quickly erased and fell back flat at the higher rates we settled […]
We knew it was coming. Rates finally worsened after hanging out near historic lows for about a week. We have seen about a .375% increase in mortgage rates in the last 48 hours. Mortgage bonds are down about 80 basis points from yesterdays open which is driving rates UP.
Every time rates hit this low level we […]
Mortgage rates bounced around last week in a .25% range but there were no major changes. They just kept bouncing back and forth in that range. Hopefully we can keep some stability this week. We remain near the lowest levels of the past 5 years so there really isn’t too much room to get better. […]
The mortgage rate market was stalled most of the morning awaiting Ben Bernanke speaking this afternoon. We’ll wait to see what kind of effect Ben Bernanke the Fed Chairman has on interest rates. He speaks shortly at 1:00 pm eastern standard time.
The mortgage securities market opened up a little better than yesterday. This should push rates down about 1/8th. We are staying in territory where rates could reverse sharply and head higher, so be careful if you are “waiting for lower rates”.
The FHA 30 Year Fixed is trying to get below 6.0%, its a tough floor […]
The big factor in mortgages rates on Monday, April 7th was the stock market. If you are currently watching mortgage rates and trying to decide when to lock in, you should keep an eye on the stock market. Monday morning the stock market started out strong pushing mortgage rates up, by 1:00 the stock market […]
Mortgage rates ticked up a little this morning due to some volatility in the mortgage bonds market. This may just be “Monday morning” reaction to Fridays drop and the gains the mortgage bond traders are able to take advantage of.
Every time we have hit the low level of rates we saw on Friday we see […]
We ended up last week with mortgage rates moving lower in Friday due to a high number of job losses. As we all know, bad news for the economy is good news for mortgage rates. This is why in many cases when the fed cuts rates mortgage rates actually get worse (the fed cutting rates […]