A fairly quiet week for mortgage rates as markets settled after last week’s FED meeting. Rates up just a bit for the week with our best 30 fixed conventional loan still at 6.00%.
A very interesting week for mortgage markets as we were reminded once again that the FED does not control mortgage rates. Even with the 25bps rate cut at Wednesday’s FED meeting, mortgage rates will end the week higher, back up to 6.00% for our best 30 year fixed conventional scenario.
Well, we made it! We officially made it back into the 5’s for the first time in 2025. After a few decent inflation reports, rates crept down just a little further this week, putting us firmly in the 5’s. We will finish the week at 5.875% for our best 30-year-old fixed conventional scenario.
As we said last week, rates could be on the move this week and they did not disappoint. We moved down to the lowest levels since October of last year. We will end the week with 5.875% costing just one-eighth of a percent in discount points on our best 30-year fixed conventional scenario.
It was another very mild, somewhat boring week for mortgage markets, at least as actual data is concerned. Hardly any change to rates at all, so we will end the week still at 6.125% for our best 30-year fixed conventional scenario.
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