Real Estate News & Tips for Central Texas
Mortgage Rates Much Steadier Today, But Still a Bit Higher
Mortgage rates jumped to their highest levels since late July yesterday. Underlying market movement wasn't readily attributable to any singular headline or economic report. Leading theories involve changes in election odds and more esoteric aspects of the bond market's plumbing. The dama
Rates Jump Quickly to Highest Levels Since July
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-September to being nearly as close to 7% today when it comes to top tier 30yr fixed scenarios for the average lender. Today's jump was particularly qui
Mortgage Rates Mostly Steady This Week After Uneventful Friday
There hasn't been much day to day movement in mortgage rates after the big jump caused by the jobs report earlier in the month. That jump ended on Monday the 7th and the average 30yr fixed rate hasn't moved more than 0.06% since then. For context, we wouldn't consider a short term move t
Mortgage Rates Move Higher After Stronger Economic Data
Mortgage rates are driven by the bond market and bonds consistently take cues from economic data. Traders have been waiting on this Thursday's economic data ever since last Thursday, largely because there haven't been any major reports between now and then. The market constantly tries to adjus
Mortgage Rates Hold Steady Ahead of Retail Sales Data
Mortgage rates have been holding in a fairly narrow range since the middle of last week and today was one of the least interesting additions to the trend. The average lender is essentially unchanged versus yesterday, up a mere 0.01%, but down 0.02% from last Friday. Mortgage rates are primaril
Mortgage Rates Side-Step Into Holiday Weekend
While this week's rates were substantially higher than most of last week's, if we remove a few flashes of volatility, the average lender stayed very close to Monday morning's levels. Wednesday afternoon and Thursday mid-day definitely saw multiple negative reprices, but in each case, the
Here's What's Really Going on With Mortgage Rates This Week
We can appreciate that the daunting task of determining what "the" actual mortgage rate may be at any given moment. The word "the" is singled out in the previous sentence because there isn't one, perfect, singular, "going rate" for a mortgage. There's a bell curve with most lenders near
Mortgage Rates Sideways to Higher
Today brought the release of the minutes from the most recent Fed meeting in addition to numerous Fed speeches and the scheduled auction of 10yr Treasuries. Each of these events has at least some track record of causing volatility for interest rates, but none of them had an impact today. As fo
Mortgage Rates Finally Level Off After Quickest Spike in Months
Mortgage rates spiked at their fastest pace in months on Friday following the jobs report and yesterday added insult to injury, making for a total increase of nearly 3/8ths of a percent (.375%) in the average lender's top tier conventional 30yr fixed rate. Moves of this size are rare, bu