Conforming mortgage rates rose by 0.625 percent Wednesday. Yes, you read it right. Zero-point-six-two-five percent. The surprise surge in pricing started shortly after 1:00 P.M. ET, then continued all the way until the market’s closing. It was the sharpest one-day surge in mortgage rates in recent history. Perhaps ever. For mortgage rate shoppers swept up in… Continue Reading
Tag Archives: interest rates
Over 24 Hours, Mortgage Rates Shoot Higher
Rates go up, rates go down. Catch them while you can. After Wednesday’s mortgage market rally drove rates down by a bunch, Thursday’s sell-off pushed them right back up. This has been a common pattern in the skittish world of mortgage rates this year. With the U.S. economy still teetering between recession and growth, markets… Continue Reading
With Mortgage Rates, You Can’t Shop For Good Luck
After a series of increases starting April 30, mortgage rates finally took a dip Monday. It was a welcome surprise for home buyers that went under contract over the weekend. Same for homeowners looking to pull the refinance trigger. Versus mortgage rates on Friday afternoon, many lenders were already showing lower rates Monday morning before… Continue Reading
How The Federal Reserve Could Swing Mortgage Rates This Afternoon
The Federal Reserve adjourns from its two-day meeting this afternoon. It’s one of 8 scheduled meetings each year for the Federal Open Market Committee. Like all FOMC get-togethers, the purpose of the meeting is to discuss financial and economic conditions in the U.S., and to make new policy to stimulate or retard economic growth, when necessary. The Federal Reserve’s… Continue Reading
What’s Ahead For Mortgage Rates This Week : April 27, 2009
Last week, like the 3 weeks prior, mortgage markets were all over the place from day-to-day. But, also like the 3 weeks prior, when the week ended Friday, rates were right back where they started from Monday. For the 4th straight week, mortgage rates started and ended the week essentially unchanged. Whether or not… Continue Reading