On Mortgage Rate Movement

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

When people visit national mortgage sites for "rates", what they're looking is for something akin to a MSRP for Mortgages; a way to keep their lender honest about rate quotes and such. Sadly, markets don't work that way. You can't visit a national website for a single mortgage rate any more than that you could watch a national forecast for a single weather report.

It's rare to hear a newscaster come right out and say "now is the time to refinance your home". It's even more rare when they get the message right. If you missed the last Refi Boom, here's what you need to know.

Mortgage rates are rising. 5 percent, 30-year fixeds will be here soon. It's apparent with just one look at a chart going back 16 months.

30-year fixed conforming mortgage rates have moved lower on the day and successfully pushed through to their lowest levels of all-time. Let's say it again : Of all time.

In April, mortgage pricing crossed the threshold every 4 hours, 6 minutes, on average. For rate shoppers, it means that the rate quote you got this morning -- from your loan officer, from your bank's website, or from wherever -- is 100% useless to you by the time this afternoon rolls around.

The Federal Open Market Committee starts a 2-day meeting today, one of 8 scheduled meetings for the year. Bernanke & Co. are expected to leave the Fed Fund Rates unchanged after the meeting, but that doesn't mean mortgage rates will be unchanged, too. Au contraire, mortgage rates will be all over the place.