Mortgage rates re-entered record-low territory last week, one-day after the Federal Reserve announced it would continue lending cash to banks at a 0% interest rate…. explicitly for the next two-years. Since then consumer borrowing costs have risen marginally, but remain in record-low territory… CURRENT MARKET*: The BestExecution 30-year fixed mortgage rate is 4.25% in most…
Category Archives: Latest Interest Rates
Mortgage Rates: Even More Nuts!
We’ve used the word “nuts” in the past to describe extra volatile movements in the mortgage market, but today takes the cake. Many market records were broken following today’s Federal Reserve FOMC meeting. The net effect was positive for consumer borrowing costs… CURRENT MARKET*: The BestExecution 30-year fixed mortgage rate is still 4.250%. More lenders…
Mortgage Rates: Sharp Improvements
We experienced some wild price swings today but consumer borrowing costs improved in the end. In many cases those improvements were significant. CURRENT MARKET*: The BestExecution 30-year fixed mortgage rate is between 4.00 and 4.250%. More lenders are willing to offer 4.00% and 4.125% is widely available. On FHA/VA 30 year fixed BestExecution is 4.00%….
Mortgage Rates: New Record Lows
Consumer borrowing costs ticked higher today in another volatile trading session (multiple reprices experienced). Mortgage rates are still in record setting territory though. This is apparent in the chart of Consumer Rate Quotes below… If the note rate line is moving up, the closing costs associated with it are on the rise. If the note…
Refi Roadmap: A Locked Rate Isn’t a Closed Loan
Rates are bouncing around near record lows set last October and consumers are looking to seize the opportunity. There’s always a rush by consumers and loan agents to lock rates on dips, and that practice is all the more prevalent when extreme daily rate swings raise the sense of urgency. But before you take the…
Mortgage Rates: Regaining Some Ground
Last week the intense rally in bond markets helped mortgage rates reach their best levels of the year, but the rally came to an end on Friday. Then on Friday evening, news the S&P downgraded the US Sovereign Debt Rating set a chain of events in motion that completely rocked the markets. Despite steep losses…
Mortgage Rates on Roller Coaster Ride. Volatility Abundant
What a frustrating week it has been for anyone trying to make sense of the movements in mortgage rates or those hoping to get ahead of the market in order to secure the lowest possible borrowing costs. Every day so far this week has seen lender rate changes in the middle of the day and…
Mortgage Rates Waiting Game Continues. Positive Signs Seen
The movements of mortgage rates higher and lower throughout the week have become progressively more tame. There was almost an entire point of difference between the highs and lows on Monday, whereas today’s range has held within a mere quarter of a point. That’s the good news as it implies the QEII bond market cleansing…
Mortgage Rate Watchers Stuck in Waiting Game
Hola from El Paso, Texas. Tension remains high in the primary mortgage market as mortgage rates have extended their losing streak. We’re in a tough spot here… We expected our float boats to take on some water last week after a much better than expected October Employment Situation Report, but I have to admit, the…
After Several Days Of Heavy Losses, Mortgage Rates Show First Signs Of Stabilizing
Yesterday, AQ discussed the recent rapid selling in the bond market potential soon giving way to some stability after the massive “washing out” of that sell-side momentum. Indeed today we may have seen the first signs of a shift. After recapturing some of the losses from yesterday, it was right back into sell mode as…