Mortgage rates¬†did nothing today. ¬†They did¬†less than nothing. ¬†This week is already easily on track to be the calmest since the election. ¬†And if tomorrow is similarly lifeless, it will be one of the calmest weeks ever.
Oftentimes, I'll note that it's the AVERAGE¬†effective rate that's "unchanged." ¬†Indeed, it's quite uncommon for almost every single rate sheet in our ongoing study to be the same as the previous day. ¬†But that's exactly what happened today. ¬†In fact, this week's rate sheets have seen less change ¬†overall than any other week this year.
This is to-be-expected, to some extent, due to seasonal considerations. ¬†The fact that underlying bond markets have been holding steadier than normal accounts for the extra stability in mortgage rate sheets. ¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.[img]http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=691016