📉Mortgage Rates Set an Interesting Record This Week

📉 Mortgage Rates Just Set a Different Kind of Record 1️⃣ Rates Hit Multi-Year Lows And Stayed There Earlier this year (January 9th), rates briefly dipped to 5.99% and then quickly bounced back above 6.20% within two weeks. This week was different. **The index hit 5.99% on Monday**It never moved above 6.00%**The entire weekly range…

Despite a shortened trading week and a major headline from the Supreme Court of the United States, mortgage rates quietly did something powerful… 👉 They dropped to their lowest levels in more than 3 years. Even with volatility tied to the recent tariff ruling, the bond market remained steady and that’s great news for homebuyers…

The two most important economic reports of the month were released this week. Both showed promising results for rates, and although rates improved, the reaction was smaller than expected. First up was November’s jobs report, which came out on Tuesday morning. It showed the highest unemployment rate since 2021 at 4.6%–well above the 4.4% forecast. Under…

Friends don’t let friends believe the myth that Fed rate cuts result in lower mortgage rates. If you’d rather not immerse yourself in the “why,” here is a solid “what:” This isn’t an anomaly. The Fed Funds Rate governs loans that last less than 24 hours whereas a mortgage can last 30 years. Loans of…

Are Rates About to Make a Move Because of the Fed

Please note that this newsletter is fiercely apolitical. There is no judgment on whether any given political development is good or bad. We are only interested in how financial and housing markets are reacting. December 10th will be the most interesting Fed announcement in more than a year. It’s the first time since mid-2024 where…

This week marked the return of delayed economic data from the government shutdown. Specifically, we received the important jobs report that was set to come out in early October. While this is September’s data, and thus a bit stale, it was nonetheless responsible for the biggest volume spike in the bond market since the last…

Please note that this newsletter is fiercely apolitical. There is no judgment on whether any given political development is good or bad. We are only interested in how financial and housing markets are reacting. Significant market volatility has been all over the news since the April 2nd tariff announcement, but this week went a long…

Last week, there was a curious, but not uncommon juxtaposition of widespread headlines claiming “lower mortgage rates” and our own headlines suggesting one of the biggest weekly jumps in years. Neither were incorrect, but only one was timely. Survey-based, weekly data served as fuel for the “lower rate” headlines because it failed to capture most…

Whether we’re talking about mortgage rates or a quintessential yard stick of the rate world like the 10yr Treasury yield, it was the roughest week in quite a while. Nearly every corner of the market continues reacting in volatile fashion to last week’s tariff announcement and the subsequent updates. Momentum toward higher rates took on…

It was a great week for fans of chaos, volatility, and low interest rates as all 3 were delivered in spades. Despite the presence of several big ticket economic reports, the catalyst was Wednesday afternoon’s tariff announcement followed by the international response on Thursday night. For the most part, the market has been responding to…