Mortgage applications rebounded this week as a drop in mortgage rates encouraged a bump in purchases and refinancing. In its weekly applications survey, the Mortgage Bankers Association reported a 3.1% increase in mortgage applications week-over-week. Both purchases and refinances saw upticks, with the refinance index up 5% from the week before and the seasonally adjusted […]
Rate drops offer reprieve for mortgage applications Read More »
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Following the surprising jobs report released on Friday, the 10-year yield dipped slightly on Monday. As a result, mortgage rates have reached a new low for 2025, with Mortgage Daily News reporting a rate of 6.57%. Remarkably, we haven’t seen a single Fed rate cut this year! The bond market influences the Federal Reserve, and
Mortgage rates hit lowest levels of 2025 Read More »
US Treasuries, coming off their best day so far this year on Friday, held onto most of the move to start a week featuring a heavy slate of note and bond auctions. Yields on longer-dated bonds settled two basis points lower Monday afternoon in New York, while shorter-dated yields were little changed. Earlier, they fell to session
Treasuries tack onto historic gain ahead of quarterly auctions Read More »
Mortgage rates fell 0.18% last week, breaking below the key threshold of 6.64%. Why is this important? Because in the last three years, when mortgage rates fell from 6.64% to 6%, housing demand has improved. Now the question is: can rates go lower? 10-year yield and mortgage rates In my 2025 forecast, I anticipated the
How much lower can mortgage rates go after Friday’s jobs report? Read More »
While many expect the Federal Reserve to cut interest rates at its September meeting, mortgage professionals caution that even if it happens, it won’t significantly impact the industry. Loan officers have encouraged borrowers to continue with their home loan applications. They note that home sellers and builders are offering concessions to lower rates, while lenders
The Fed could cut rates in September. Mortgage pros are skeptical of the impact Read More »
Bad takes about mortgage rates spread faster than wildfire — especially when they come from politicians or go viral on X. But when these narratives are misleading or flat-out wrong, they don’t just confuse consumers. They erode trust in our industry and inject unnecessary chaos into an already complex housing market. It’s time to set
Mortgage rate mythbusting: Destroying the most common misconceptions Read More »
Overall employment numbers fell below what the market anticipated, with 73,000 July job additions compared to estimates for 104,000, making it more likely that a mortgage rate drop is nigh and that industry hiring may escalate. Bond market reaction to the Bureau of Labor Statistics data could lower long-term mortgage rates near term, according to
Weak jobs data boosts odds of mortgage rate drop Read More »
In a week marked by another Federal Reserve meeting, mortgage rates largely flatlined with the central bank’s decision surprising few. The average 30-year fixed rate edged down to 6.72% as of July 31, according to Freddie Mac’s weekly Primary Mortgage Market survey. The average dropped 2 basis points from 6.74% a week earlier, and was
Why mortgage rates are trapped in a narrow range Read More »
Housing regulator Bill Pulte showed new frustration with Federal Reserve Chairman Jerome Powell and the latest decision to keep short-term rates unchanged on Wednesday, adding to pressure President Trump has been putting on the monetary policymaker to lower them. This time Pulte used his social media account on X to take issue with the way
Pulte takes issue with Powell statement on Fed housing role Read More »