Mortgage Rates Just a Bit Higher After Last Week's Jump
The average top-tier 30yr fixed mortgage rate rose 0.
The average top-tier 30yr fixed mortgage rate rose 0.08% last Friday after the jobs report came in much stronger than expected. Today added another 0.02% of upward movement. Today's level of 6.68% is the 3rd highest of the past 9 months. Unlike Friday, there were no big-ticket economic reports driving volatility in rate markets. The only arguable cause and effect was seen earlier in the morning surrounding war-related headlines. These actually helped rates start the day lower than they otherwise would have. As the week continues, investors will remain tuned in to war-related developments as well as an important inflation report on Wednesday morning (the Consumer Price Index or "CPI").
The average top-tier 30yr fixed mortgage rate rose 0.08% last Friday after the jobs report came in much stronger than expected. Today added another 0.02% of upward movement. Today's level of 6.68% is the 3rd highest of the past 9 months. Unlike Friday, there were no big-ticket economic reports driving volatility in rate markets. The only arguable cause and effect was seen earlier in the morning surrounding war-related headlines. These actually helped rates start the day lower than they otherwise would have. As the week continues, investors will remain tuned in to war-related developments as ... (read more)
Things got a bit worse before they got better over the weekend. 10yr yields were as high as 4.58% in overnight trading, but are now roughly unchanged in early domestic trading. Oil prices mirrored the same movement overnight, but haven't recovered as much as bond yields. In fact, bonds arguably led the move lower with a gradual rally starting just after... (read more)
Remember when talk of a “re-IPO” of Freddie and Fannie dominated residential lending news? That has certainly quieted, Pulte’s attentions are diverted, and you can certainly buy stock in them now: share prices for both are down about 30 percent this year so maybe they’re a bargain. For those new to the biz, the FHFA oversees F&F, and the FHFA’s Director ... (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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