Rate Weather glossary
Key terms
Forecast-free answer
These terms explain the market forces behind mortgage pricing, each with a primary source.
Last reviewed against the primary sources listed below.
- Mortgage-backed security
- A bond made of pooled mortgages whose price drives the pricing lenders can offer. Source: Ginnie Mae: Our mission
- Treasury yield
- The return on U.S. government debt, which mortgage pricing often moves alongside. Source: U.S. Treasury: Daily Treasury rates
- Federal funds rate
- The overnight bank lending rate the Fed targets, which affects mortgages only indirectly. Source: Federal Reserve Board: Monetary policy
- Repricing
- A lender issuing new pricing during the day after markets move. Source: CFPB: What's a lock-in or a rate lock on a mortgage?