Real Estate News & Tips for Central Texas
Highest Mortgage Rates of The Week, Just Barely
Yesterday, we characterized the prevailing mortgage rate momentum as "broadly sideways," and while that's still very true in the bigger picture, words like "up" and "higher" might need to be sprinkled in this week. For those with a glass-half-empty approach, today's rates are the highest of the week
Mortgage Rates Broadly Sideways
Most of this week's mortgage rate movement has been an aftershock following last week's jobs report. That data sent rates quickly higher and that momentum has gradually faded over the past few days. In fact, yesterday finally saw an improvement. Now today, things are minimally changed, dependi
Mortgage Rate Losing Streak Ends With Moderate Victory
It's a bit of a stretch to refer to the past week as a "losing streak" for mortgage rates. The worst part about it was the consistency of upward movement starting last Wednesday. In terms of the size of that movement, things have been less traumatic considering the average lender was still at
Mortgage Rates Still Lower Than May/June Despite Drifting Higher
Bad news first: mortgage rates have been moving steadily higher in July with the average top tier 30yr fixed scenario rising from 6.67% to 6.81% in just 4 business days. This isn't an incredibly abrupt move, but it's slightly brisk compared to the average day of rate movement. The good news is
Mortgage Rates Continue Higher For Third Straight Day
For the entire 2nd half of June, it was easy to be spoiled by the absence of volatility in mortgage rates. During that time, rates were either lower or unchanged every single day. The past few business days have been a different story. This began last Wednesday as the bond market began a small corre
Mortgage Rates Rose Less Than Expected After Employment Data
Today brought the hotly anticipated jobs report. This is the "official" job count and unemployment rate data for the U.S. and no other report has as much consistent power to cause volatility in the rate market. Today's was particularly important because a perpetually decent labor market
Rates Finally Rise Ahead of Jobs Report
Mortgage rates have generally been falling since May 21st and have done nothing but move lower for more than 2 weeks. That winning streak finally came to an end today with the average lender moving up 0.06% for a top tier 30yr fixed quote. While that's a moderately big jump for a single day, i
Mortgage Rates Hold Steady at 3 Month Lows
It's been 88 days since the average 30yr fixed mortgage rate was as low as it is today--close enough to 3 months. Some lenders may be higher or lower than they were yesterday depending on whether or not changed rates yesterday afternoon. Mortgage lenders prefer to set rates once per day, but c
Mortgage Rates Take Another Step Toward April Lows
April 3rd and 4th saw the average top tier 30yr fixed mortgage rates well into the "mid 6's." Many lenders were able to quote 6.5% at the time. Just a few days ago, we noted there was still a ways to go before breaking below those early April levels, but the past few days have taken us w