What direction are mortgage rates in the US heading?
This Mortgage Rates Excel dashboard will tell you. You can see the full version of it below.
Mortgage rates vary depending on your FICO score, your loan-to-value (LTV) ratio, the length of the loan, its type, and so on. This dashboard displays the daily average interest rates for each of 15 different categories of US mortgages, for each of the most-recent 71 days. You can update it every business day with one command.
This Excel dashboard uses only ordinary Excel. It uses no VBA and no add-ins.
In total, the workbook tracks 20 daily mortgage interest rates and displays 15 of them. As you’ll see below, you can change the measure that any figure displays by choosing a different measure from a dropdown list box.
Here’s the full dashboard:
To see how you change the measure shown for any of the figures, suppose you want to change Figure 11 from the 15-Yr Conforming measure (shown above and in example A below) to the Freddie Mac 15-Yr measure:
First, select the figure’s title cell, as shown in example B. Then, as indicated by the red arrow for B, click on the control for the figure’s dropdown list box. Choose the Freddie Mac measure from the list, as shown in example C. After you do so, and if your Excel calculation mode is set to automatic, your figure will update automatically.
And so, in example D, because the Freddie Mac measures are updated weekly rather than daily, the chart displays 70 weeks of data instead of 70 days of data. And the information below the chart changes to reflect the new data frequency and source for your data.
To be clear, the dropdown method isn’t intended to serve as an interactive way to look at all possible measures. Instead, it’s a way that you very quickly and easily can choose the measures you want your dashboard to display.
Even if you care nothing about mortgage interest rates, you’ll find this to be an amazing workbook. It’s the product of years of experience in building powerful, agile, and reliable Excel dashboards.
Today, this dashboard only is available for versions of Excel that include the functions: SORT, UNIQUE, SEQUENCE, XLOOKUP, MINIFS, and MAXIFS. That is, as of September 2021, it’s available only for users of Excel 365. But a workbook that works with earlier versions of Excel should be available shortly.
The dashboard includes simple documentation so that you can get started updating and tracking mortgage rates right away.