Real Estate News & Tips for Central Texas
Mortgage Rates Jump to Highest Levels of The Week
While there was never much of a chance of mortgage rates moving above the levels seen at the beginning of last week, they were easily able to nab the dubious distinction of hitting this week's highest levels today. This is the least surprising thing imaginable after looking at this week's chart of m
Mortgage Rates Didn't Actually Move Sharply Lower Today
Thursday's mark the release of Freddie Mac's weekly mortgage rate survey. It's the longest running and most widely cited measure of mortgage rates, but it's not always the most accurate when it comes to tracking day to day changes. In today's case, the survey showed a sharp drop from 6.89 to 6
Mortgage Rates Holding Near 5 Month Lows
Despite an active calendar of events that had the potential to cause volatility, average mortgage rates managed to remain unchanged in the morning and to move slightly lower in the afternoon. Last Thursday's inflation data helped 30yr fixed rates drop to 5 month lows and there hasn't been much
Mortgage Rate Winning Streak Finally Ends, But Just Barely
When is a defeat not really a defeat? Mortgage rates have an idea. They're fresh off an incredibly rare 8 day winning streak that took the average 30yr fixed rate to the lowest levels in 5 months AND well under the 7% mark for top tier scenarios. Contrast all that gloriousness to today's
Mortgage Rates' Impressive Winning Streak Faces Increasing Resistance
We occasionally reference 5 day winning streaks for mortgage rates as the sort of uncommon occurrence that greatly increases the odds of at least a temporary pullback. Longer streaks do happen, but odds of a pullback increase sharply after 8 days. With all that in mind, today marked the 8th st
Mortgage Rates Shrug Off Seemingly Threatening Inflation Data to hit 5 Month Lows
Yesterday was all about the CONSUMER Price Index (CPI), which helped mortgage rates drop at the 2nd fastest pace of the year. Today brough the PRODUCER Price Index (PPI), and the message was a bit different. While PPI is not in the same league as CPI in terms of its impact on rates, there have
Mortgage Rates Drop Sharply After Inflation Data
Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender. 30yr fixed rates had
Mortgage Rates Tick Back Below 7.0%, But Just Barely
Mortgage rates have been in a narrow range for more than a month now with the average top tier 30yr fixed rate staying within striking distance of the 7.0% mark for the entirety. The number was 7.01 yesterday and it's down to 6.99 today. This matches the level last seen on June 14th and you'd
Mortgage Rates Barely Budge, But That Will Change Soon
Mortgage rates are based on movement in the bond market and bonds haven't been moving much over the past 3 days. That's resulted in very little change in the average mortgage rate from one day to the next, and zero change today. Bonds can be inspired by a number of events and data