Uncategorized

Mortgage rates are based on bonds and bonds take their most important cues from big ticket economic reports. But such reports have been in short supply so far this week. Instead, the market has been left to focus mainly on speeches from various Federal Reserve officials. Fed speeches can certainly have an impact, but it […]

After hitting the lowest levels in nearly a year (and nearly the lowest levels in 3 years) last Tuesday, rates lurched higher following Wednesday’s Fed announcement.  While the Fed cut rates as expected, and while the Fed’s rate forecasts were well-received, Powell’s guidance pushed back in the other direction.  Economic data on Thursday morning made

Officially, our daily mortgage rate index is a hair lower today than it was yesterday. Your mileage may vary depending on the lender in question. Reason being: some lenders offered mid-day improvements yesterday, but not enough to impact our index.  Those same lenders are generally a hair higher today, but again, the average lender is

Katie Sweeney, a prominent broker advocate, is disputing accusations by her former organization that she directed almost $1 million in payments to herself. The Association of Independent Mortgage Experts raised the claim in response to its former leader’s lawsuit suggesting the trade group owes her money. The sides have traded allegations since Sweeney sued AIME

Several things happen on Fed Day–especially on the 4 out of 8 examples with updated rate forecasts from Fed members.  The official announcement of a rate cut is typically the least important aspect.  In fact, it is usually entirely unimportant in terms of its impact on mortgage rates. Instead, the bonds that determine mortgage rates

Mortgage rates dropped sharply lower today relative to the amount of movement in the underlying bond market with the average lender right in line with the lowest levels since late 2022. Because rates are directly tied to the prices of those bonds, the correlation tends to be almost perfect over time. But there are always

Forward look: Miran is expected to take part in the Fed’s rate setting committee meeting.  Key insight: Miran breaks years of precedent by becoming the first Fed official to also retain his White House position.  What’s at stake: The Fed will decide this week whether to cut interest rates, and Miran will likely be a

Mortgage rates have done almost nothing but move lower over the past 4 months. The first Fridays in August and September account for about half of the total drop thanks to weaker results in the jobs report. Since the September 5th jobs report, rates have held a sideways-to-slightly lower range that’s resulted in several additional