News
Mortgage Rates’ Impressive Winning Streak Faces In
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 ...
Mortgage Rates Shrug Off Seemingly Threatening Inf
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 leag...
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 ...
Mortgage Rates Tick Back Below 7.0%, But Just Bare
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...
Higher Rates Suppress Mortgage Application Volume
Mortgage applications declined slightly on a seasonally adjusted basis last week but plummeted on an unadjusted basis during the July 4th week. The week’s results include an additional adjustment to account for the holiday. The Mortgage Bank...