Weekly Newsletter

First things first, mortgage rates remain much higher than they were at the end of February. That said, they definitely did not move higher this week.

The Iran war continues to dominate financial markets and mortgage rates are no exception.

While the word "regime" is often seen in a geopolitical context, it's also common in financial markets. With respect to rates, the most recent regime involved steady improvement starting in May 2025 and ending 3 weeks ago. Since then, a new regime has been taking over and it kicked into high gear this week.

February ended with average 30yr fixed rates at the lowest level in more than 3 years. There's been a grueling march higher since then.

Last week, it seemed interest rates could do no wrong. This week has been exactly the opposite.