Real Estate News & Tips for Central Texas
Rate Optimism Put To The Test by Jobs Report
There's a strong case to be made for the fact that interest rates had a sunny predisposition this week. In practical terms, that simply meant giving more credence to rate-friendly news and trying harder to overlook unfriendly news. But the predisposition was put to the test in a major way with
Mortgage Rates Hold Steady Ahead of Important Economic Data
The outcome of certain economic reports will determine whether the next big move in interest rates is higher or lower. Two reports are more important than all others in that regard and we'll get both of the them by next Wednesday. Tomorrow's jobs report is the more pressing matter. It ma
Mortgage Rates Improve Again, Despite Headwinds From Economic Data
The phrase "data dependent" is ingrained in the current bond market psychology for good reason. Weaker trends in economic data will reliably cause the Fed to cut rates when the time comes. This is particularly true for inflation-related data, but other reports still matter. One of
Mortgage Rates Another Step Closer to 3-Month Lows
For most lenders, you'd still see modestly lower rates on several days in mid May, but apart from that, you'd need to go all the way back to early April to see anything lower. Said differently, today's rates are fairly close to the lowest levels in 3 months. If the 3 month distinction is to be
Mortgage Rates Fully Erase Last Week's Spike
Mortgage rates had a rough go of it in the 4 days following Memorial Day weekend (i.e. last week). To be fair, the tough part was limited to the first two days. Thursday and Friday both helped to undo some of that damage, but the average lender was still at higher levels compared to the week b
Plenty of Rate Volatility Despite Holiday-Shortened Week
This week got off to a late start as markets were closed on Monday for Memorial Day. Upon returning to the office, traders began pushing rates higher almost immediately. It's often said that the bond market can experience elevated, seemingly random volatility amid the lighter trading participation s
Mortgage Rates Break 5 Day Losing Streak, But Remain Elevated
If we overlook the nearly unchanged performance from last Friday, mortgage rates were on a 5 day losing streak as of yesterday afternoon with the 30yr fixed rising about a quarter of a percent. That streak ended today as the bond market responded to favorable inflation data and tame comments f
Mortgage Rates Much Higher Over The Past 2 Weeks
Mortgage rates most recently bottomed out on May 15th with the average top tier conventional 30yr fixed scenario being quoted just a hair under 7.0%. It's been a fairly consistent march higher since then, slowly at first, but more abruptly in the present week. Between yesterday and today alone
Rates Jump to Highest Levels in More Than 3 Weeks
It was a mini rollercoaster of a day for mortgage rates with the average lender starting the day at lower levels than Friday only to end at the highest levels since May 3rd. The weakness was driven by a combination of economic data, comments from Fed officials, and weaker US Treasury auctions.