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Ask any real estate expert about the most important factor in buying a home, and you’ll hear the same thing: location, location, location. It’s a cliché because it’s true — and for today’s first-time buyers, it’s also one of the biggest hurdles. Finding a place that checks the boxes for lifestyle and amenities while staying […]

Mortgage rates hit fresh long term lows yesterday with the average top tier 30yr fixed rate at the best levels since October 3rd, 2024.  There wasn’t anything exceptional about the movement yesterday or on any other day in the past week.  Rather, it was the jobs report at the beginning of the month that accounted

October 3rd, 2024 continues to be the day to beat when it comes to mortgage rates hanging out at 10 month lows. Today’s top tier 30yr fixed rate matched October 4th levels for the first time since then, just barely edging out last week’s lowest levels. Hitting the next milestone will be a much bigger

Pundits, politicians, and everyone else can continue to assume that mortgage rates will respond to changes to the Fed Funds Rate. Meanwhile the bonds that actually dictate mortgage pricing will continue responding to the most important economic reports. The two biggest examples are the monthly jobs report and today’s release of the Consumer Price Index

The average top tier 30yr fixed rate held exceptionally steady last week after moving just a bit lower over the weekend. By comparison, today’s rates are much closer to Friday’s latest levels and still very close to the lowest we’ve seen since October, 2024.  If the two key economic considerations for interest rates are jobs

Mortgage rates finally moved in a slightly more noticeable direction today, but the change was still inconsequential in the bigger picture. The average 30yr fixed rate in our index edged up a mere 2 hundredths of a percent from 6.55% to 6.57%, exactly matching the levels seen on August 6th. This leaves rates in the

Mortgage rates have barely budged after Monday with the day-over-day change failing to exceed 0.02% on any given day. But today’s budging happened to bring the average 30yr fixed rate to another 10-month low.  Lenders are in the mid 6% range for top tier scenarios. Economic data is one of the common influences for the

Although there were flashes of potential volatility in the underlying bond market at times today, mortgage rates made it through unscathed.  In other words, the volatility wasn’t sufficient to force the average lender to make mid-day changes to the rates they decided to offer this morning. Whereas yesterday saw an inconsequentially small increase of 0.01%

Yesterday saw the average 30yr fixed rate fall back in line with levels from early October, 2024. This happened for two reasons. The broader, underlying reason is that rates have been in a fairly narrow, stable range and that range was already relatively closer to 10 month lows than 10 month highs. The more specific

Mortgage rates are driven by movement in the bond market and bonds take cues from economic data, among other things. The monthly jobs report is routinely the most closely watched economic report as far as bonds are concerned and Friday’s caused a significant amount of bond buying (which, in turn, pushes rates down). Friday’s reaction