Up until last week's Fed announcement, the average 30yr fixed...
Up until last week's Fed announcement, the average 30yr fixed mortgage rate was at the lowest levels in more than a year (in many cases, matching the same lows seen on September 16th--the day before the previous Fed announcement). Although these past 2 post-Fed episodes have resulted in somewhat volatile bounces, rates are still far closer to long-term lows than they are to the summertime highs. In terms of MND's 30yr fixed index, we're currently at 6.34% versus last week's low of 6.13%. Contrast that to rates just under 7% in June and 7.25% earlier this year.
Up until last week's Fed announcement, the average 30yr fixed mortgage rate was at the lowest levels in more than a year (in many cases, matching the same lows seen on September 16th--the day before the previous Fed announcement). Although these past 2 post-Fed episodes have resulted in somewhat volatile bounces, rates are still far closer to long-term lows than they are to the summertime highs. In terms of MND's 30yr fixed index, we're currently at 6.34% versus last week's low of 6.13%. Contrast that to rates just under 7% in June and 7.25% earlier this year. (read more)
Bonds were moderately weaker in the overnight session with most of the selling arriving at 7:56am ET when Alphabet filed for a large corporate bond offering, estimated at $15bln. Corporate bond issuance puts upward pressure on rates in several ways and there's almost always an immediate pop when a new, large deal (like this morning's) is announced. As a resu... (read more)
“Daylight savings time: Is the government cutting off the bottom of a blanket and sewing it to the top and saying, ‘See? Its longer now.’” Here in Austin, TX, Texas Women Mortgage Bankers’ Fall Social and TMBA’s Housing Summit agenda are full of speakers (not from, but…) discussing the U.S. Government’s role in housing and finance, as well as our Fed. “Rob, ... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.
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