Mortgage Rates: Decision Time Again

After failing on repeated occasions to extend a two-month rally, mortgage rates took the path of least resistance this week: UP The BestEx levee burst . In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are rising. If the line is moving lower, costs are getting cheaper. Sideways mortgage rate behavior followed by an abrupt drop followed by another spell of mostly sideways activity can be seen when looking closely. This spell of sideways activity took place near the...

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Mortgage Rates: Risking Another Move Higher

Volatility attacked on Tuesday and attacked again today. For the second time this week, home loan borrowing costs have risen about as much as they can without negatively impacting the CURRENT MARKET Best Execution Mortgage Rates. The abrupt jump in cost is again due to bond market volatility following a "technical breakdown." Read More from MBSonMND . CURRENT MARKET *: The "Best Execution" conventional 30-year fixed mortgage rate has risen to 4.625%. Some lenders may already be quoting 4.75% though...

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Mortgage Rates: Volatility Attacks!

Home loan borrowing costs rose about as much as they could today without having it negatively impact CURRENT MARKET Best-Execution Mortgage Rate quotes. That means if you were being quoted a CURRENT MARKET "Best Execution" note rate yesterday, your closing costs rose a bunch today, but you should still be able to close at the same Best Execution note rate. Except if you're watching 15 year BestEx quotes. Those rose to 3.875%. Sounds a little shocking doesn't it? It seems like just last week we were...

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Mortgage Rates: Indecisive Attitudes

We're back to and maybe even setting new year-to-date mortgage rate lows right now. These positive developments follow a short period of stagnation where volatility in the secondary mortgage market kept us on edge, but never really amounted to much on rate sheets. Loan pricing has drifted mostly sideways since setting new YTD lows on June 8th. And even though we didn't have far to travel, we're back to those lows again. And maybe even teetering on lower lows.... SEE A CHART OF NEW YTD RATE LOWS CURRENT...

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Mortgage Rates: Yep. Lows of Year

We're back to and maybe even setting new year-to-date mortgage rate lows right now. These positive developments follow a short period of stagnation where volatility in the secondary mortgage market kept us on edge, but never really amounted to much on rate sheets. Loan pricing drifted mostly sideways since setting new YTD lows on June 8th. And even though we didn't have far to travel, we're back to those lows again. And maybe even teetering on lower lows.... In the chart of Consumer Rate Quotes below...

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Mortgage Rates: Back to Best Levels of Year

Some stored energy was released today. Loan pricing improved. And now we're back to the best mortgage rate levels of the year. These positive developments follow a short period of stagnation where volatility in the secondary market kept us on the edge of our seats, but never really amounted to much on rate sheets. Loan pricing has actually drifted mostly sideways since setting new YTD lows on June 8th. We didn't really have to travel far to get here, but we're back again. In the chart of Consumer...

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Mortgage Rates: Stuck in Defensive Stance

Home loan borrowing costs today recovered a portion of the increases they experienced on Monday and Tuesday. Once again these slight cost improvements came amidst a volatile backdrop. These are generally not favorable conditions for rate watchers as volatility in the secondary mortgage market puts lenders in a more defensive position than usual. That means we're not seeing aggressive loan pricing strategies on rate sheets. Mortgage rate movements have gone stale. CURRENT MARKET : The "Best Execution...

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Mortgage Rates: Volatility Leaves Lenders Defensive

Home loan borrowing costs continue to hover near the best levels we've seen all year. Activity in the secondary mortgage market is getting more and more restless though as investors await an update from the Federal Reserve tomorrow and new developments in the Greek debt crisis. Intraday volatility has picked up as a result. This is important because lenders tend to price loans more defensively when volatility is a problem. CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage...

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Mortgage Rates: Headline News Dependent

Home loan borrowing costs are hovering near the best levels we've seen all year. Volatility has however picked up in the bond market. Just last Tuesday rate watchers experienced a scare where it looked like Best Execution quotes were doomed to move higher. Those anxieties were however quickly alleviated as a flight to safety rallied benchmark bonds back to their lowest yields in nearly 7-months. A "flight to safety" happens when investors are nervous about owning risky assets like stocks, but do...

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Mortgage Rates: Waiting for New Guidance

A scary setback early in the week had us on the edge of our seats but home loan borrowing costs managed to recover thanks to a "flight to safety" in the bond market. This helped mortgage rates end the week near the same levels they closed at last Friday. A "flight to safety" happens when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate their money into risk-free government guaranteed U.S Treasury debt to...

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