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In April 2011, lenders issued 1.70 rate sheets per day. This means that mortgage rates changed every 4 hours, 42 minutes on average. It's a slower rate of change from March, but still really, really fast.
In March 2011, lenders issued 2.26 rate sheets per day. Mortgage rates changed each 3 hours, 32 minutes on average.
Mortgage Rate Velocity -- the speed at which mortgage rates change on a day-to-day basis -- is increasing. In February, mortgage rates changed every 3 hours, 16 minutes on average.
Life is getting difficult for home buyers and rate shoppers. Since the start of April, mortgage lenders are averaging 2.25 rate sheets per day. Mortgage Rate Velocity -- the pace of rate sheet change -- is as high as it's been in a year.
February's mortgage market could be categorized as "on edge". For the most part, rates didn't change intra-day. It was common for lenders to issue rate sheets in the morning and stick to their pricing through market close. However, there were two days on which 3 rate sheets were issued, and 1 day on which 4 were issued.
On average, mortgage lenders issued just 1.4 rate sheets per day in January, or 7 per week. Mortgage rates haven't been that stable on day-to-day basis in 10 months. However, stability has a way of unwinding rather quickly. Here's what to expect in February.
Bad news for Cincinnati rate shoppers and home buyers -- mortgage rate volatility is back. Last month, mortgage lenders issued nearly 2 rate sheets per day on average, the most rate sheets per day since August and the first increase since June when mortgage rates rose into the 6s. Since reaching an all-time low November 30, 2009, mortgage rates have changed 45 times. Here's what to do about it.
It's a terrific time to shop for a mortgage. Rates are scraping all-time lows and MBS volatility is fading. Mortgage rates are changing every 5 hours on average -- a molasses pace as compared to June and the slowest rate since March. Slow and low. That is the tempo. And it suits rate shoppers just fine.
It appears that shopping for a mortgage rate isn't getting any simpler. For the 3rd consecutive 60-day period, mortgage lenders issued 2-plus rate sheets per day on average and rates changed once every 3 hours, 54 minutes. But for all of those updates -- surprisingly -- rates haven't really changed all that much.
For the second consecutive month, mortgage lenders issued 100-plus rate sheets in a 60 day period. That's 2.36 rate sheets per day, or roughly 0.64 less than the Magic Number. It's a ridiculously high number in the context of mortgage market history.
Mortgage rate volatility is back in a big way, folks. To put the pace of change in perspective, consider this: * In the last 60 days, lenders have issued 4 or more rates sheets in a day once per week * In the last 365 days, lenders have issued 4 or more rates sheets in a day once per month. The last 2 months have been a mortgage rate whirlwind.
After two straight months during which mortgage lenders were apt to let morning rate sheets stand, volatility is returning to mortgage rates. Over the last 60 days, on average, lenders have released mid-day, interest rate updates on 3 days of the 5-day workweek. It's making the process of shopping for mortgages a little bit more challenging.
In March and April 2009, lenders issued one rate sheet daily on more days than they issued multiples. Volatility is increasing, however.
As stock markets finish a quarter marked by high volatility, mortgage pricing seems to have settled down a bit. Last month, for the first time in more than a year, mortgage lenders held their morning pricing all the way through market close. This is an odd development, though; incongruent with...
At least 3 days per week, data from January and February 2009 shows, mortgage rates changed at least twice daily. Lest you think that's a rapid rate of change, scroll down the list and you'll recognize that last month came courtesy of the The Slowskys. There's been a marked reduction...
What is a rate sheet? It's a mortgage lender's "price sheet"; its available-to-the-public mortgage rates for its products. Products include 30-year fixed rate mortgages, 5-year ARMs, FHA loans, and the like. If the bank offers it, it's on the rate sheet and when rate sheets change, by definition, mortgage rates change, too.
