Oklahoma Mortgage Group - Mike David

  Mortgage rates finally showed a little improvement late last week. After several weeks of increases, mortgage-backed securities began recovering some of their losses, and daily national mortgage rates moved lower. That was encouraging. But buyers should be careful about assuming a few better trading sessions mean mortgage rates are headed significantly lower. This week brings two important inflation reports that could quickly change the direction of the mortgage market. There is also a fresh housing-market story that may be particularly useful for buyers. More homes are available nationally, even though fewer sellers are listing. That combination tells us quite a bit about where the market stands as we move further into October. Mortgage Rates Improved Late Last Week Freddie Mac reported that its national average 30-year fixed mortgage rate reached 7.40% on October 8 , up from 7.28% the previous week. That marked the seventh consecutive weekly increase. AP News However, Freddie M...

September’s jobs report looked like the kind of economic news that should help mortgage rates. The U.S. economy added only 29,000 jobs in September . Unemployment increased slightly to 4.2%. Wage growth slowed to 3.0% over the past year, and July and August payrolls were revised lower by a combined 60,000 jobs. Bureau of Labor Statistics Mortgage rates briefly improved Friday morning. Then the improvement disappeared. Mortgage News Daily’s national 30-year fixed index ultimately finished Friday at 7.57% , close to its highest level in years. Mortgage News Daily That may seem contradictory, but it tells us something important about the mortgage market right now. The Fed Is Only One Piece of the Mortgage Rate Puzzle The Federal Reserve controls a very short-term overnight interest rate. A 30-year mortgage is a long-term financial instrument. That means mortgage rates are influenced much more directly by mortgage-backed securities and longer-term Treasury bonds. Early this week, the 10-ye...

  Mortgage rates took a meaningful step higher last week, and this week may be even more consequential. The combination of rising oil prices, persistent inflation and changing expectations for Federal Reserve policy pushed Treasury yields sharply higher. The 10-year Treasury finished last week near 5%, and mortgage pricing deteriorated along with it. For Tulsa-area buyers and Realtors, the important question is not simply, “What are rates today?” It is: Why did rates move, what could happen next, and what can we actually control? Mortgage Rates Moved Higher—Fast Freddie Mac reported that its national average 30-year fixed mortgage rate increased to 6.76% on September 10 , up from 6.71% the previous week. GlobeNewswire But Freddie Mac’s weekly survey does not fully capture what happened later in the week. Mortgage News Daily’s more immediate daily index finished Friday around 7.12% , after rates rose almost one-quarter of a percentage point during the week. Monday morning’s bond mar...

Mortgage Monday is arriving on a Tuesday this week—and this time, waiting for the financial markets to reopen gave us a much clearer picture of what is actually happening with mortgage rates. The early read is mixed. Mortgage bonds have recovered from some premarket weakness, and the 10-year Treasury yield was close to 4.78% during Tuesday morning trading. That is better than the early premarket level of approximately 4.80%, but it is not enough to call this a meaningful mortgage-rate rally. The more accurate description is: Mortgage pricing opened roughly unchanged to slightly better, but inflation and oil prices are keeping the market on edge. What Happened When the Market Opened? Before the regular market session, the 10-year Treasury yield was approximately 4.803%, nearly two basis points higher than Friday’s close. Later in the morning, the yield moved back toward 4.78%, while mortgage-backed securities were essentially unchanged to slightly stronger. That recovery is mildly encou...

If you've been following mortgage rates this summer, you know the story has been frustrating. Every time rates appeared ready to improve, another inflation report, geopolitical headline or jump in Treasury yields seemed to push them back in the other direction. But over the last two weeks, the economic picture has started to become a little more encouraging for homebuyers. Mortgage rates haven't suddenly become “low,” and nobody should assume a major drop is right around the corner. But we're finally seeing several pieces of the economy moving in a direction that could eventually provide some relief. At the same time, something important is happening locally: Tulsa homebuyers are gaining negotiating power. Here's what buyers, homeowners and Realtors should know. Mortgage Rates Eased Slightly Last Week Freddie Mac's national benchmark for a 30-year fixed-rate mortgage averaged 6.67% on August 13 , down slightly from 6.69% the previous week. The 15-year averag...

The Federal Reserve announced no change to the Fed funds rate at its April 2026 meeting, keeping the benchmark rate between 3.50% and 3.75% . This marks the third consecutive meeting without a rate cut. While many entered 2026 expecting rate relief, global economic pressures, particularly elevated oil prices, are keeping inflation persistent and delaying those anticipated cuts. Why Rates Aren’t Dropping Yet Several key factors are influencing today’s rate environment: • Oil prices remain above $100/barrel , fueling inflation • Ongoing geopolitical tensions are creating uncertainty • The economy is showing resilience , not weakness • The job market remains stable, with no major contraction Because of this, the Fed is taking a cautious approach before making any moves toward rate cuts. What This Means for Mortgage Rates Mortgage rates don’t directly follow the Fed funds rate, but they are heavily influenced by: • Inflation trends • Market expectations • Investor behavior R...