Interest Rates at 2017 Lows

6/5/2017 | Casey Fleming In April I wrote that interest rates had slid down to their lowest point in 2017. After a short, small, steady move up they have slowly settled back down to April levels. What’s happening? What drives interest rates? As a reminder, long-term trends in interest rates tend to move according to...

Interest Rates Settle at 2017 Lows

4/8/2017 | Casey Fleming Last week I wrote that barring something surprising in the minutes of the Fed meeting from last month, rates would probably be stable this week.  As it turns out, something surprising was in the minutes, but the markets took it in stride and rates pretty much flatlined. Let’s compare interest rates...

Lower Mortgage Rates Last Week

4/2/2017 | Casey Fleming Last week I wrote that due to a thin week of economic reports there was not much likely to happen the week of March 27th to drive mortgage rates one way or another.  I also noted that this coming week (April 3rd) there were more economic reports on tap, and some...

Are Interest Rates Coming Back Down?

Mortgage interest rates rose rapidly beginning the week before the Board of Governors of the Federal Reserve met on March 14th and 15th.  As expected, the Feds raised short-term rates, and that spurred a rally in mortgage interest rates almost immediately. They had come up a long way, however, so they had a long way...

Why Mortgage Rates Dropped This Afternoon

3/15/2017 | Casey Fleming As anticipated, the FOMC – the Federal Open Market Committee of the Federal Reserve (or simply, “The Feds”) – voted to raise interest rates today, raising the discount rate from 0.75% to 1.000%.  So, everyone wants to know why mortgage rates dropped this afternoon.  Yes, that’s correct – dropped.  Shortly after...

Interest Rates Poised to Move

February 25, 2017 / Casey Fleming Last week I wrote that interest rates were still flat-lining, but a holiday-shortened work week and light economic data could push bond yields down.  As you can tell from the chart below, 10-year bond yields and mortgage-backed securities did rally, driving bond yields down. Lenders remained confused, however, and...

Interest Rates Behaved This Week

Interest rates pretty much flatlined this week.  As I wrote last week it was a busy week for economic reports, but they pretty much all came in very close to where the consensus of a survey of economists thought they would.  Most showed a very slight surprise to the upside, which is not good for...

Will Interest Rates Drop This Week?

Last week I wrote that this could be the week that interest rates begin to drop because rates are probably a little higher than where they should be and it is a very light week in terms of economic reports.  Political news, rather than economic news, seems to have driven investors away from bonds for...

Mortgage Rates – New Year, New Attitude?

What have mortgage rates been up to so far in 2017?  Are interest rates up, down, or sideways?  In a previous column, I wrote that interest rates would jump up if Donald Trump won the election, and probably settle down once the news had been digested.  Let’s see how I did. As we know by...

Mortgage Rates Hold Steady

As expected, mortgage rates held steady this last week, with a very slight improvement Monday and Tuesday of this week, supporting the notion that bonds are oversold but won’t recover until the New Year. The Electoral College vote did not appear to have any measurable impact on the market, so we presume that the market...