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Why Did Rates Completely Ignore This Week's Bad News? November 5, 2021
This week, the Fed announced a reduction in its bond buying. In separate news, the big jobs report was much stronger than expected. Both of these events should have pushed rates higher. So why didn't they? Let's start with the Fed and its bond buying adventures (also known as QE or "quantitative easing"). The following […]
Mortgage Rates Started Flat, But Moved Lower During The Day November 4, 2021
Mortgage rates fell today as markets decompressed following yesterday's announcement from the Federal Reserve regarding the reduction of its bond buying efforts (aka "tapering"). Despite the proximity to Fed day, markets were more inspired by another central bank today: the Bank of England (BOE). The BOE had its own policy announcement early this morning. Unlike […]
Minimal Damage For Mortgage Rates Following Fed November 3, 2021
Mortgage rates moved higher today after the Federal Reserve announced a reduction in its rate-friendly bond buying program. Actually, to be fair, rates moved higher before the Fed made that announcement, and largely for other reasons. The biggest issue today was, in fact, a widely followed report on the service sector (ISM Non-Manufacturing PMI) which […]
Another Good Day For Rates, But Tomorrow is Anyone's Guess November 2, 2021
Mortgage rates began the day moderately lower compared to yesterday's latest levels. The size of the move depends on the time of day in question due to intraday movement in the bond market. Simply put, bonds improved steadily from the beginning of the day yesterday and ultimately peaked around 11am today. In general, bond market […]
Mortgage Rates Catch Up To Last Week's Market Movement (That's a Good Thing) November 1, 2021
Mortgage rates moved moderately lower today despite an absence of significant movement in the bond market. In general, when bonds improve, rates fall (and vice versa), but it's not feasible for mortgage lenders to adjust their rates offerings in relative real-time as bonds can send massively mixed signals on any given day. Last Friday was […]

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Testimonials

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