Real Estate News & Tips for Central Texas
Mortgage Rates Little Changed Today, This Year, And Over The Past 2 Years
Mortgage rates didn't move much today, and markets have been very quiet due to the holiday week. So we'll take a quick moment for a retrospective. In September 2022, 30yr fixed mortgage rates crested 7% for the first time in more than 2 decades. The following year saw rates move momentarily un
Mortgage Rates Start Higher, But Recover in Afternoon
Mortgage rates are based on trading levels in the bond market and bond market activity has been extremely slow, as is normally the case during the Christmas holiday week. The side effect of the slow activity is the risk of more random volatility. In other words, bonds (and thus rates) ca
Mortgage Rates Higher to Start Holiday-Shortened Week
Holidays have inconsistent impacts on mortgage rates because holiday's have inconsistent impacts on the bond market (and rates are dictated by the bond market). Bond traders (the people buying and selling the bonds that ultimately determine mortgage rates) are people too. They take vacations,
Mortgage Rates Recover Some of The Lost Ground
The week's big story is still the big jump in rates that took place after Wednesday's Fed announcement. And while rates remain noticeably elevated on the week due to that jump, they're set to end the week at slightly less elevated levels. Credit this morning's inflation data for that developme
If You're Struggling to Understand This Week's Mortgage Rate Spike, This is For You
We received some anonymous feedback regarding recent rate commentary that serves as a good reminder that not everyone may be picking up what we're putting down, or worse yet, picking up things that we never put down in the first place. We spend a lot of time talking about how the bond ma
Mortgage Rates Jump Abruptly Higher After The Fed's Rate Cut
If anyone needed any further convincing that a Fed rate cut is no guarantee of lower mortgage rates, today is a great piece of evidence. Perhaps "great" is the wrong word. There was nothing great about the mortgage rate movement following today's Fed rate cut. The average lender is at le
Mortgage Rates Effectively Unchanged Ahead of Fed Announcement
Mortgage rates have been having a much calmer week compared to last week. Monday brought a modest decline versus last Friday and today's rates are effectively unchanged. While the average lender is still noticeably higher compared to the first few days of the month, this resilience helps
Mortgage Rates Start New Week With Some Hope
Last week wasn't great for mortgage rates. They moved higher on each of the 5 days. Moreover, there was a distinct lack of logical motivation from the economic data. In fact, on a few occasions, the data argued for lower rates only for things to move in the other direction by the e
Mortgage Rates Rise For 5th Straight Day
There's no easy way to say it: it was a bad week for mortgage rates. Actually, it was a bad week for interest rates in general and mortgage rates typically follow the rest of the rate market. After hitting the lowest levels in a month and a half last Friday, each of the next 5 days saw a