Interest Rates

Consumer Confidence Rebounds in February

Today's Mortgage Rate Summary

How Rates Move:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.

Rates Currently Trending:

Mortgage rates are moving sideways so far today. The MBS market improved by +1 bps yesterday. This wasn't enough to improve rates or fees. The rates experienced low volatility yesterday.

Today's Rate News: