Real Estate News & Tips for Central Texas
Mortgage Rates Down to Lowest Levels of The Year
It's official! At this point, you'd need to go all the way back to the end of December 2023 to see a lower average rate for a top tier, conventional 30yr fixed mortgage. Today's rates are already fairly close to those late-December levels. Any further improvement would result in th
Rates Drop to Another Long-Term Low After Fed Announcement
The Fed didn't cut rates today and rates then moved quickly lower. Naturally, there's more to the story than that, but the paradox is a good reminder that the market reacts in real time to things that won't happen for months. Specifically, the Fed's next meeting isn't until Septemb
Mortgage Rates Trickle to New 6 Month Low Before Fed Announcement
Mortgage rates began the day with the average lender quoting just slightly higher rates compared to yesterday's latest levels. By the end of the day, however, that average had fallen to its lowest level in more than 6 months, even if only by the thinnest of margins. Rates are driven by movemen
Mortgage Rates Start Week at 6 Month Lows
Although the range has been very narrow for the past few weeks, average mortgage rates nonetheless fell to the lowest levels in more than 6 months. Top tier conventional 30yr fixed scenarios are well into the high 6's now, with our proprietary daily average at 6.81, matching the levels seen on
Inflation Data Continues Paving The Way For (Eventual) Rate Cuts
This week's most important economic data was the PCE price index which is the gold standard of big picture inflation measurement. For those hoping to see rates drop, it was important for PCE to confirm the progress seen in the CPI data (the other major inflation index that came out 2 weeks ago).&nbs
Mortgage Rates Inch to Another Short Term High
Mortgage rates continue moving in very small steps from day to day--something that's been the case since the Consumer Price Index (CPI) more than 2 weeks ago. Unfortunately, more of those steps have been higher in the past week, and today is no exception for most lenders. This is counterintuit
Mortgage Rates Move Up To 2 Week Highs After Starting Out Flat
Mortgage rates technically moved up to the highest levels in 2 weeks today, but that sounds a bit more dramatic than it actually is. Rates have largely held inside a narrow range close to the lowest levels in 6 months during that time. Today's weakness in the bond market just happened to
Mortgage Rates Stay Boring, But For How Long?
Spats of volatility in the mortgage rate world seem to last only a matter of hours recently and to occur only a few times on any given month. The rest of the time is spent drifting mostly sideways waiting for the next big shoe to drop. We've been decisively locked in one of those "drifting" mo
Mortgage Rates Remain Unchanged to Start The Week
Mortgage rates rose at a moderately quick pace on Friday, partially in response bond market weakness on Thursday afternoon that happened too late in the day for many lenders to update their offerings. To be fair, it was only "moderately quick" relative to the subdued volatility seen during the