It’s easy enough for media outlets to accurately report the underlying facts when it comes to mortgage rates and housing. It seems far harder to find consensus when it comes to what those facts mean and why things are the way they are. Let’s clear up some of the misconceptions driving this phenomenon as we recap the week’s market movement and housing-related developments.
Source: Kevin Litwicki MBSLIVE
Let's Shatter Some Housing/Mortgage Misconceptions

Various speeches from members of the Federal Reserve contributed to upward pressure on rates throughout the week. But then on Friday, all that pressure was erased in an instant.
Source: Kevin Litwicki MBSLIVE
No Rest For Refi Boom as Tweets Trump Fed

This week, the Mortgage Bankers Association (MBA) released application numbers that confirm what almost anyone in the mortgage industry could have already told you (if they could find the time and energy!) A new refi boom is underway.
Source: Kevin Litwicki MBSLIVE
New Refi Boom Kicking Into Higher Gear

Market volatility has been fairly intense over the past week and a half with trade war drama taking the spotlight away from the Fed and economic data. While that was very bad for stocks at the beginning of this week, it was insanely good for rates.
Source: Kevin Litwicki MBSLIVE
Lowest Rates Since 2016, But Why Aren't They Lower?

On the morning after this week’s Fed rate cut, mortgage rates were roughly unchanged versus the previous morning. This will come as a surprise to scores of consumers who mistakenly believe the Fed’s 0.25% rate cut equates to a 0.25% drop in ALL rates.
Source: Kevin Litwicki MBSLIVE
The Fed Did NOT Cut Mortgage Rates, But Trump Tried!