It's getting pretty tough to weave an interesting narrative on...
It's getting pretty tough to weave an interesting narrative on mortgage rates over the past 3 weeks. During that time, they just haven't changed that much for the average lender. Today was just another day in that regard. Bonds (which dictate day to day movement in rates) were slightly weaker than yesterday. This implies slightly higher mortgage rates and, indeed, today was no exception. But the important points are as follows: bond market movement has been relatively small on any given day winning and losing days have been in relatively equal supply Bottom line: today's losses leave the average rate easily inside the narrow prevailing range.
It's getting pretty tough to weave an interesting narrative on mortgage rates over the past 3 weeks. During that time, they just haven't changed that much for the average lender. Today was just another day in that regard. Bonds (which dictate day to day movement in rates) were slightly weaker than yesterday. This implies slightly higher mortgage rates and, indeed, today was no exception. But the important points are as follows: bond market movement has been relatively small on any given day winning and losing days have been in relatively equal supply Bottom line: today's losses leave ... (read more)
With Jobless Claims on hold due to the shutdown, bonds are forced to endure another data-free morning. The calendar offered a glimmer of hope with a Powell speech, but it was pre-recorded and did not address monetary policy. With that, bonds wait for the day's only real potentially significant event: the 1pm 30yr bond auction. We're seeing a bit of selling t... (read more)
“Two lawyers walk into a pub. They order a couple of drinks and take subs out of their brief cases. They begin to eat. Seeing this, the angry pub owner exclaims, ‘Excuse me but you cannot eat your own sandwiches in here!’ The two look at each other, shrug, then exchange sandwiches.” Legal news leads off the Commentary today as Optimal Blue and nearly 30 orig... (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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