Mortgage rates technically ticked a hair lower today, but it's...
Mortgage rates technically ticked a hair lower today, but it's more accurate to view them as being broadly sideways. Some lenders issued improvements yesterday afternoon. Those lenders were closer to unchanged this morning. As of this afternoon, several lenders have already issued slight rate increases due to weakness in the bond market. Bonds dictate rates. Today, bonds took cues from two main events in the afternoon. The first was a scheduled auction of 10yr Treasuries. Auction demand was slightly weaker than expected. This pushes Treasury yields higher and Treasury yields correlate with mortgage rates. An hour later, the Fed released the minutes from the last Fed meeting 3 weeks ago. The minutes painted a slightly less rate-friendly picture than was in place at the time. This created a bit of extra weakness in the bond market, but only by a barely detectable amount. All told, the bonds that specifically pertain to mortgage rates were right at the same levels seen during the same time frame yesterday afternoon. In general, that will equate to mortgage rates being at the same levels as well.
Mortgage rates technically ticked a hair lower today, but it's more accurate to view them as being broadly sideways. Some lenders issued improvements yesterday afternoon. Those lenders were closer to unchanged this morning. As of this afternoon, several lenders have already issued slight rate increases due to weakness in the bond market. Bonds dictate rates. Today, bonds took cues from two main events in the afternoon. The first was a scheduled auction of 10yr Treasuries. Auction demand was slightly weaker than expected. This pushes Treasury yields higher ... (read more)
While there are a smattering of Fed speakers on the calendar today, the morning comments are not likely to have an impact. In fact, the average Fed speech is a forgettable event these days as there are only so many ways to say "inflation is still higher than we want, but we're feeling a bit more nervous about the labor market." Other than that, it is only th... (read more)
We’re sailing through autumn. Places like Seattle and Minneapolis are losing 3-5 minutes of sunlight a day. Donald Trump told Congress to end changing clocks, but is seems that most states will still do it (“spring ahead, fall back”) November 2. Time flies, and we’re 23 days away from Halloween. Despite how it’s celebrated by 5-year-olds and their parents, f... (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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