Mortgage rates¬†were unchanged¬†today, holding onto modest improvements seen yesterday. ¬†In many ways, the past 2 days have confirmed that rates are in limbo near the lower end of the post-election range. ¬†To be sure, they were definitively lower in mid-April, but they're much closer to recent lows than highs. ¬†More importantly, current levels have acted as a line in the sand that divides the year's lowest rates from everything else. ¬†In other words, we'd really like to remain in this zone. ¬†
Whether or not that's possible may depend on next week's Fed Announcement (Wednesday afternoon). ¬†While the Fed isn't expected to hike rates this time around, investors will nonetheless attempt to pick up on clues about future policy potential. ¬†The average lender continues offering conventional 30yr fixed rates in the 4.0-4.125% range for top tier scenarios.¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.