Rates may still be elevated in a general sense, but by the end of the week, they were as low as they’ve been since July 17th. If we have one thing to thank, it was this week’s inflation data.
Source: Kevin Litwicki MBSLIVE
Lowest Mortgage Rates in 4 Weeks After July's Inflation Data

Mortgage rates moved lower almost every day this week with most of the help coming from war-related headlines and a last minute boost from the jobs report.
Source: Kevin Litwicki MBSLIVE
Lowest Rates in Weeks After Jobs Report and Oil Price Drop

If there’s one thing to know about this week’s rate movement is that it left us almost exactly where we were last Friday. How we got there felt a bit more dramatic at times.
Source: Kevin Litwicki MBSLIVE
Not Much Worse Than Last Week, But it Was a Bumpy Ride

While the milestones may be significant, the underlying reasons for them remain simple. Oil is pushing rates higher.
Source: Kevin Litwicki MBSLIVE
Highest Rates in Over a Year (And a Small Recovery on Friday)

It was an eventful week for mortgage rates and the bond market, but ultimately a decent one. Monday’s rates matched the highest levels in nearly a year, but by Friday, we were actually just a hair lower versus last Friday. Here’s how we got there.
Source: Kevin Litwicki MBSLIVE
Rates Caught a Big Break From This Week's Inflation Reports

For 3 months, they were almost inseparable. Then in June, they went their separate ways. Now oil and rates are back together following the end of the U.S./Iran ceasefire.
Source: Kevin Litwicki MBSLIVE
Oil and Rates Giving Their Relationship Another Shot

Last week’s newsletter flagged an uncommonly high level of quarter-end trading volatility as a key contributor to a surprise mid-week rate spike. We got another dose of that drama this week, but things calmed down by the end.
Source: Kevin Litwicki MBSLIVE
Rates Remain Elevated "Just Because," But Still Under Recent Highs

This week offered a welcome reminder that not every improvement in mortgage rates requires a dramatic headline.
Source: Kevin Litwicki MBSLIVE
Big Improvements Don't Always Require Big News

Since March 1st, the Iran war has been the primary reason for movement and volatility in the bond market. Pre-war motivations were woefully muted. That changed a bit with the jobs report two weeks ago and it changed again with this week’s Fed announcement. Thankfully, the damage was quickly reversed.
Source: Kevin Litwicki MBSLIVE
Fed Steals Spotlight From Iran War

Since late March, markets have had repeated opportunities to play deal or no deal when it comes to ending the Iran war. Sometimes we won. Sometimes we lost. This week’s installment was touch and go, but ultimately a winner.
Source: Kevin Litwicki MBSLIVE
Everyone Wins This Week's Round of Deal or No Deal