Real Estate News & Tips for Central Texas
Mortgage Rates Lower Despite Bond Market Weakness
On Wednesday, the average mortgage lender was quoting top tier, conventional 30yr fixed rates at the 2nd lowest level in more than a year. That's counterintuitive considering the modest losses in the bond market (weaker bonds = higher rates, all other things being equal). The explanation comes
Mortgage Rates Sideways to Slightly Lower
It was another generally uneventful day for the bond markets and, consequently, for the mortgage rates that take cues from bond market movement. While there were a few more economic reports on tap, none of them had a big impact on trading levels. Instead, bonds began the day in slightly weaker
Mortgage Rates Fall to 2 Week Lows After Fed's Friendly Message
Every year, the Federal Reserve (aka "the Fed") gathers in Jackson Hole, WY with a bevy of other central bankers and academics to discuss and comment on monetary policy in a setting that's slightly less formal than normal. Despite the scenic backdrop, Jackson Hole speeches by the Fed Chair hav
Modest Bounce For Mortgage Rates
After moving lower for 4 straight days to hit the 3rd lowest levels in more than a year, mortgage rates bounced just a bit higher today. This was the first day of the week with meaningful economic data and the bond market (which dictates rate movement) frequently takes cues from such data. In
3rd Best Day For Rates in Over a Year
Although the day to day changes in mortgage rates have been modest recently, the slow and steady improvement has brought the average top tier 30yr fixed rate back near the lowest levels in more than a year. Apart from 2 days earlier this month, rates are as low as they've been since May, 2023.
Mortgage Rates Edge Lower Yet Again
File today under "nice." While it wasn't amazing, significant, or even the byproduct of any interesting events, mortgage rates managed to drift modestly lower, ultimately matching their lowest levels since August 5th. The lowest rates in just over 2 weeks might seem like it's worth
Mortgage Rates Move a Hair Lower to Start The New Week
After the intense volatility seen earlier in August, the average change for mortgage rates on any given day has been shrinking. Last week was a mere shadow of the former week which, in turn, was nowhere close to the week before that. If Monday is any indication, the present week will attempt to keep
Rates Are Settling Down After 2 Wild Weeks
Mortgage rates had a much calmer week this week compared to the previous 2. The average top tier 30yr fixed rate held a fairly narrow range between 6.49 and 6.58, with Friday's latest move being a decent drop back to 6.56%. Contrast that 0.09% range to the previous two weeks, which saw r
Rates Jump Higher After Upbeat Economic Data
Mortgage rates had moved a bit lower since their most recent high last Thursday. By yesterday afternoon, the average lender had moved down to 6.49 from just under 6.63 for a top tier conventional 30yr fixed purchase. After this morning's economic data, almost all of that improvement was erased