Real Estate News & Tips for Central Texas
Mortgage Rates Little Changed, But Friday Could See a Bigger Move
Mortgage rates began the day perfectly in line with yesterday's latest levels for the average lender. By the afternoon, the underlying bond market had lost enough ground that a handful of lenders were forced to issue mid-day reprices thus taking the average just a bit higher. Unlike the past few day
Biggest Daily Drop For Mortgage Rates in Over a Month
Whether or not today's drop in rates is meaningful depends on one's perspective, but in the context of recent rate movement, it's definitely noticeable. The simplest way to think about the improvement is as follows: the average lender is now about an eighth of a percent lower in just over a we
Mortgage Rates Edge Higher to Start Busy Week
Mortgage rates have been in an exceptionally narrow range since last Tuesday with the 30yr fixed index hovering just under 7%. The average lender is just a hair higher today versus last Friday, but still just under 7%. As always, the index is best used as a tool to track day over day changes i
Mortgage Rates Move Slightly Lower After Today's Data
There was a bit of behind-the-scenes volatility in the bond market today. Normally, bond volatility translates to interest rate volatility. In some cases, the timing of the volatility is such that has a minimal impact on mortgage lenders. Today was one of those days. Yesterday evening, n
Mortgage Rates Hold Mostly Steady
After moving moderately lower to start the new week yesterday, mortgage rates backtracked ever-so-slightly today. Top tier conventional 30yr fixed rates remain just under 7% for the average lender. They spent 3 days above that mark last week. Rates can move for a variety of reasons with
Mortgage Rates Move Back Under 7%
The 30yr fixed mortgage rate index spent 3 consecutive days over 7% last week--the first time that's happened since February. Rates have generally been in a more volatile, more elevated range for the past 7 weeks compared to the narrow range seen in March. To put that in perspective, the diffe
Mortgage Rates Lower Again Today, But Still Higher on The Week
The bond market is scheduled to close 3 hour earlier than normal today--a common practice surrounding federal holiday weekends. This means 3 fewer hours where trading volatility can have an impact on mortgage rate movement. Said more simply: the day is basically over when it comes to potential
Mortgage Rates Edge Down From Recent Highs, But Remain Over 7%
Mortgage rates hit their highest level in just over 3 months yesterday with financial markets generally protesting the absence of more serious spending cuts in the spending bill. Rates care about fiscal spending because higher spending requires higher Treasury issuance which, in turn, pushes r
Mortgage Rates Move Up to 3 Month Highs
Two days ago, mortgage rates began the day at 7.04% before mid-day improvements brought the average back down to 6.99%. Today started out in a similar vein with the average lender at 7.05%, but the mid-day movement only made things worse. In terms of catalyst events, the bond market (and stock