Mortgage Rate Watch
Lowest Mortgage Rates in Nearly a Month Tue, 01 Apr 2025 19:29:00 GMT

While interest rates continue operating in a range that is generally flat and narrow over the past 5 weeks, it's also true that today's rates are on the lower edge of that range. Because there's not much of a gap between the highs and the lows, it didn't take a major move to facilitate today's little victory, but it is notable that we've seen 3 victories in a row now.  In other words, rates have fallen by a modest amount on each of the past 3 business days. To reemphasize the narrowness of the range, we were at the highest levels 4 days ago. Today's victory wasn't necessarily a given.  It relied on the bond market's reaction to today's economic data.  Bonds drive rates, and econ data can be a key motivation for bonds. Weaker data tends to help bonds improve, thus pushing rates lower.  Several of this morning's economic reports were slightly weaker than expected. In and of themselves, they may not have helped rates, but with the unified message of economic uncertainty, it was enough to usher rates toward the lower range boundary.
Read More...
Mortgage Rates Inch Lower, But Remain Broadly Sideways Mon, 31 Mar 2025 19:30:00 GMT

"Sideways" has been the dominant theme for mortgage rates for well over a month now. The average top tier 30yr fixed rate fell below 6.82% on February 25th, and moved down to 6.70% the following week.  We haven't been outside of that range since then. Today was just another day in that regard, or perhaps even a prime example considering it was smack dab in the middle of that range.  While it's not always apparent by the time mortgage lenders set rates for the day, the underlying bond market continues experiencing volatility behind the scenes. Recently, that volatility often aligns with the stock market as investors react to the economic implications of fiscal policies.  This could cause more movement on Wednesday when tariff details are expected to come out. In addition, this week's economic data is more than capable of moving the needle--especially Friday's jobs report.  As always, there's no way to know which direction rates will move in response to key events.  If there were, investors would move in that direction before the event, thus taking the probability back to 50% for either outcome.  
Read More...
Mortgage Rates Move Lower Even Though They Weren't Supposed To Fri, 28 Mar 2025 21:34:00 GMT

First thing's first before anyone gets too excited: yes, rates fell on Friday, but not significantly.  The average lender is still a bit closer to the higher end of the recent range. In addition, the recent range is quite narrow with average top tier 30yr fixed rates never straying too far from 6.75 since late February. What made today interesting was the fact that rates moved lower at all.  As we often discuss, rates take lots of guidance from key economic reports such as this morning's PCE price index (a key inflation report). PCE arguably had more potential than any other economic data this week to cause a reaction in rates.  Conventional wisdom is clear on the reaction function: If inflation comes in higher than expected, rates are more likely to move up, all other things being equal.  In today's case, rates dropped even though inflation rose.  What's up with that? One mitigating factor is the fact that the unrounded PCE numbers were much closer to what the market was expecting.  In other words, inflation looked like it rose more than it actually did due to the custom of rounding the numbers to the nearest tenth of a percent.  Beyond that, it's also plain to see that the stock market fell significantly today--something that's recently been very likely to correlate with interest rates moving lower.  Last but not least, there are some advanced considerations that have to do with month and quarter end trading practices. A detailed explanation is beyond the scope of our coverage, but the gist is that month/quarter end can create rate movement in either direction without any motivation from economic data. With Monday being the last day of the month/quarter, we're certainly seeing some influence from this type of trading.
Read More...
Mortgage Rates Steady to Slightly Higher Thu, 27 Mar 2025 19:26:00 GMT

With the exception of Monday, which saw a medium-sized uptick in mortgage rates, the rest of the week has been fairly calm in terms of volatility. Unfortunately, the low-volatility movement has been exclusively higher in rate and it's starting to add up.  In fact, as of today, the top tier conventional 30yr fixed rate is at the highest level in just over a month.  There was nothing special about today that led to that reality. It was just another day with minimal rate movement. When considering something like "the highest rates in a month," low volatility is the silver lining.  It means that there's really not much of a difference between the best and worst rate offerings of the past few weeks.  A longer term chart makes it fairly easy to see what sharper movement would look like. It also highlights the narrowness of the recent range compared to the range over the past 7 months.  [thirtyyearmortgagerates]
Read More...
Mortgage Rates Hold Steady Near Recent Highs Wed, 26 Mar 2025 20:58:00 GMT

It depends what one's definition of "recent" is, but if it involves the past few weeks, mortgage rates were at their highest recent levels both yesterday and today.  2 other days in that window were worse, but only microscopically.  On a positive note, the entirety of the past few weeks has seen rates calmly holding a narrow range at the lowest average level since early October 2024.   If it's not already clear, today did nothing to change the prevailing trend, even though the underlying bond market suggested rates should move higher.  As we discussed yesterday, bonds can say one thing and mortgage rates can do something else depending on the time of day and the pace of market movement.  Today was just another example as the bond market movement that suggested higher rates happened too late in the day for most lenders to react.  The tacit implication is that rates will be slightly higher tomorrow if the bond market remains in the same territory between now and tomorrow morning. 
Read More...
Mortgage Rates Modestly Higher on Average, But Some Lenders Are Lower Tue, 25 Mar 2025 20:02:00 GMT

One of the key principles of mortgage rate movement has to do with the frequency of mortgage rate changes.  Specifically, mortgage lenders prefer to update rates once per day. This is notable because mortgage rates are based on bonds, and bonds are constantly trading.  The compromise is that mortgage lenders will indeed change rates more than once a day, in cases where bonds move enough to force their hands. This concept is relevant today because it explains why rates are both higher and lower, depending on the lender in question. Yesterday, bonds were moving in such a way that prompted some lenders to raise rates in the afternoon.  Other lenders held steady and simply raised rates this morning instead.  Lenders who raised rates yesterday were fairly close to the same levels this morning, and many of them were actually slightly lower. On overage, though, this morning's rates were higher than yesterday's.   To make matters just a bit more confusing, we're once again seeing enough market movement for lenders to make mid-day changes today, but this time, it's in a friendly direction.  A small handful of lenders have offered modest improvements, but even if every lender followed suit, yesterday morning's rates would still be slightly lower.  To repeat a phrase from yesterday, yes, this is much ado about nothing.  Top tier, conventional 30yr fixed rates are still orbiting 6.75% in a calm, narrow range in the bigger picture. 
Read More...
Mortgage Rates Slightly Higher to Start New Week Mon, 24 Mar 2025 19:41:00 GMT

The average mortgage lender raised rates modestly on Monday morning--a logical move considering the weakness in the bond market over the weekend.  Rates are based directly on bonds. Bond "weakness" means investors are paying less for bonds which, in turn, means that yields (aka "rates") are effectively higher.  Investor demand for bonds has waxed and waned in a narrow range recently. It has also had a tighter than normal relationship with the stock market. Specifically, the ebbs and flows in economic fears have caused investors to move out of stocks and into bonds, or vice versa. Today was an example of the latter (stronger stocks, weaker bonds) due to tariff exclusion news over the weekend. In the bigger picture, all of this analysis is much ado about nothing. Mortgage rates continue a very flat, narrow orbit around 6.75% for top tier conventional 30yr fixed scenarios. A bigger departure from this range will require a bigger shift in several key economic reports (specifically, inflation reports and the big jobs report that typically comes out on the first Friday of the month). 
Read More...
Mortgage Rates Tick Gently Higher to End Week Fri, 21 Mar 2025 18:44:00 GMT

In terms of the market movement that underlies and dictates mortgage rate movement, today looked a lot like yesterday.  Things started strong and faded gently as the day progressed. There were no notable economic reports or news events apart from a White House press conference where Trump said there will be "flexibility on tariffs."  Tariffs have generally been a depressant for financial markets, acting to push stock prices lower and--at times--increasing demand for bonds (which, in turn, helps rates move lower).  With that in mind, when we've seen headlines that suggest a slightly less austere tariff policy, it has frequently resulted in some stock market strength and bond market weakness.  Today was no exception.  The caveat is that these trading patterns played out on a very small scale for the bond market.  As such, the average lender is almost perfectly in line with yesterday's latest mortgage rate offerings, but technically just a hair higher.
Read More...
Mortgage Rates Very Close to Multi-Month Lows Thu, 20 Mar 2025 20:32:00 GMT

It was actually a rather uneventful day for the bond market. That means it should have been an uneventful day for mortgage rates (because they're driven by changes in the bond market). To be fair, it was far from an exciting day, but the average mortgage lender was nonetheless able to inch closer to potentially exciting milestone. Rates have generally been flat at levels that are just a bit higher compared to the longer-term low seen in early March.  Before that, you'd have to go back to mid-October to see anything lower.  Today's mortgage rates ended up 0.05% lower than yesterday's, despite the bond market indicating no change.  The discrepancy comes down to timing. Yesterday saw a nice improvement in bonds late in the day.  Not every mortgage lender went to the trouble to improve their rates. Now today, bonds are falling back to the same levels, but they were in better shape this morning when most lenders decided their rates for the day.  The average lender has, once again, not gone to the trouble to raise their rates in response to the bond market movement.   If you're wondering if there's a tacit implication about tomorrow's rates being a bit higher if nothing changes between now and then, you're exactly right.  That would be the mathematical conclusion anyway. As for this afternoon, the average lender is only 0.01% above the "lowest since October" rates seen on the morning of March 4th.
Read More...
Rates Move Back Toward Lows After Fed Announcement Wed, 19 Mar 2025 19:52:00 GMT

Heading into today, we knew the afternoon's Fed announcement was biggest potential flashpoint for interest rate movement, and that the movement probably wouldn't be extreme. The unknown, as always, was the direction of said movement. Thankfully, it was lower. This wasn't destined to be the case this morning.  Out of the gate, the average mortgage lender was offering slightly higher rates compared to yesterday's latest levels. After markets reacted to the Fed, lenders revised their rates to the lowest levels in just over a week (also fairly close to the low end of the range going back to mid October). [thirtyyearmortgagerates] What did the Fed say/do to bring rates down?  First off, the bond market movement wasn't big, even by the standards of a regular non-Fed day.  That said, there was definitely a reaction to the Fed. Some of it had to do with the Fed's rate forecasts staying fairly grounded despite concerns that recent inflation readings could push those forecasts higher.  In addition, the Fed made some changes to the way it handles the payments it receives on bonds it already owns. The changes will allow the Fed to reinvest more of those payments back into buying new bonds, and bond buying is good for rates, all other things being equal.  
Read More...

About Me

My name is Ramesh Annabathula, I am a Licensed GA Real Estate Salesperson.I want to thank my clients for selecting me as a your Real Estate Agent. Buying or selling a home is a major event. My expertise and track record  helped clients achieve their goals and have a positive outcome.I strive to maintain long-term relationships with clients and help them make wise financial decisions with their real estate purchases. My goal is always to exceed expectations.

Contact me for Help

If you have problem and you need my help, give me a call, i want to hear from you. Send us an email that describes the problem [email protected]]
www.AgentRamesh.Com Design Ramesh Annabathula see Terms of Use