Weekly Newsletter

This week offered a welcome reminder that not every improvement in mortgage rates requires a dramatic headline.

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.

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.

While they're not yet back to the recent long term highs seen on May 19th, rates surged to 2-week highs on Friday after an exceptionally strong jobs report.

Some news stories called out this week's mortgage rates as being the highest since last August, and while many of them came out only yesterday, this is really old news from last week.