Real Estate News & Tips for Central Texas
Mortgage Rates Finally Win One
Mortgage rates moved lower today after hitting the highest levels since mid November yesterday. Some lenders were down as much as an eighth of a percent, which is on the bigger side for a day-over-day change for conventional 30yr fixed rates. As nice as it is to see a big improvement, it
Mortgage Rates Back to 7.5%
The bad times keep rolling for mortgage rates with the average conventional 30yr fixed rate back up to 7.5% according to our daily index. This is quite a bit higher than the major weekly indices for a few reasons. First, the weekly indices haven't been updated for the current week yet.&n
After Months of Relative Calm, Rates are Starting to Look Panicked Again
In 2023, there were multiple examples of mortgage rates moving up by roughly half a percent in a relatively short amount of time (1-3 weeks). Since the big shift in November, we've only seen one similar example and it was more of a technicality (a sharp drop in rates followed by a correction i
Mortgage Rates Move Lower After 2-Day Rout, But Underwhelmingly So
Wednesday was one of the worst days in decades in terms of single-day upward movement in mortgage rates. Thursday added a bit more insult to the injury. The resulting levels were the highest since November 2023. We should be thankful, then, that Friday managed to push back in the o
Mortgage Rates Are Actually The Highest Since Mid November
Wednesday's Consumer Price Index caused a brutally fast spike in mortgage rates. It wasn't notable for taking us to exceptionally high levels (October 2023 was much higher), but it was one of the biggest single-day jumps. Either way, it easily took the average lender back to highest leve
Basically The Worst Day For Mortgage Rates Since October 2022
Mortgage rates surged at a pace seen only one other time since October 2022. The average lender moved up by 0.28%, which is functionally equivalent to the 0.29% seen after the February 2nd jobs report. In fact, today was arguably worse because the Feb 2nd example happened a day after rat
Decent Recovery For Mortgage Rates, But Huge Volatility Potential Ahead
Mortgage rates roughly matched their highest levels in months yesterday, but managed to turn things around today. One could argue that the broader bond market (which dictates rates) began to turn things yesterday morning and that the only reason rates moved higher was the overnight bond market
Mortgage Rates Near Highest Levels Since February
Mortgage rates moved up somewhat abruptly today as the bond market lost more ground over the weekend. Rates are driven primarily by bonds, but mortgage lenders tend to only update rates once per day unless the bond market is moving very quickly. With that in mind, bonds were losing ground on F
Mortgage Rates Surprisingly Steady Despite Strong Jobs Report
Data dependent... That's a phrase that is all too prevalent in financial markets and among members of the Federal Reserve. It refers to the fact that economic data will guide the future path of interest rate decisions. While rates always depend on data, the data outlook isn't alway