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Rocket Mortgage announced today that it will soon default to VantageScore 4.0 instead of the FICO score it relied upon for years. The switch is expected to take place in the fourth quarter of 2026 and all will apply to all eligible loan types. This includes loans backed by Fannie Mae and Freddie Mac, along… Read More »
Now that mortgage rates are the highest they’ve been since early 2025, the next logical question is how high will they go? How high do mortgage rates go this cycle? We’re currently averaging around 7.25%, so the next stop could be 7.50% and eventually 8%. For the record, 8% is the current cycle high for… Read More » Wh
Every day, we fret about small changes in mortgage rates, even if it amounts to just a handful of basis points. The 30-year fixed climbed from 7.17% to 7.22%! Oh no! Meanwhile, there are lenders out there offering the same loan for nearly one full percentage point higher. Some lenders are offering a rate of… Read More
Mortgage rates feel pretty hopeless right now. They’ve risen from sub-6% to the mid-7s in just the past six months. With a meteoric rise over the past month, climbing nearly a full percentage point. At this time last month, the 30-year fixed was around 6.75% and today it’s closer to 7.5%. So what can save… Read More »
Just when it appeared that mortgage rates were chipping away, they’re back to new highs. And not just any old highs, but the highest highs since President Trump took office for his second term. The bellwether 10-year bond yield surged higher today after a hot inflation report, rising nearly 20 basis points. At the same
The Federal Reserve is almost guaranteed to hike rates today. Odds are currently around 93%, per CME FedWatch, meaning it’s basically a sure thing. In the Fed’s history, they’ve never defied odds like that so a ¼-point hike should be delivered as expected. The impact on mortgage rates is less certain, as it always is…
The past month has been really rough for mortgage rates, but we could be near a top. The 30-year fixed has risen from around 6.875% in early August to 7.25% today. However, the move higher could be running out of steam given the big increase in such a short period of time. What will dictate… Read More » Are Mortgage Ra
Mortgage rates are lower today after the market finally digested the first Fed rate hike since 2023. The Federal Reserve hiked its short-term rate 0.25% yesterday, leading to a temporary drop in mortgage rates, followed by a snap back higher. That had a lot of folks fearing for the worst, but today it’s a different… Re
Chase is back with another mortgage rate sale, something they’ve done several times over the past couple years. They don’t advertise the exact amount of the discount, but common knowledge says it’s 25 basis points (0.25%). So if the hypothetical rate offered were 7.125%, perhaps you can get a rate of 6.875% instead. Th
Any hope of a trend reversal for mortgage rates seems to be DOA. A cooler-than-expected jobs report this morning could have taken the pressure off. But instead, it came in well above expectations, piling even more pain onto interest rates. It also increased the odds of a September Fed rate hike to over 60%. Perhaps… Re
You’ve probably heard that mortgage rates hit a new 2026 high. That’s true. The 30-year fixed climbed to 6.89%, per the latest daily rate update from Mortgage News Daily. It is indeed the highest point of 2026, and the highest point in over 52 weeks as well. The last time the 30-year fixed was this… Read More » Mortgag
If you asked someone a year ago where mortgage rates would be today, my guess is they wouldn’t say one full percentage point higher. Yet here we are, with the 30-year fixed now almost exactly 100 basis points (1.00%) higher than it was last September. Today, prospective home buyers are facing a rate of about… Read More
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