Mortgage rates¬†fell modestly¬†today, but remained well inside the narrow range that's been intact for more than a week. ¬†For most lenders, that means conventional 30yr fixed quotes of 4.0-4.125% on top tier scenarios. ¬†Most borrowers will continue to see day-to-day changes in the form of minor adjustment to upfront costs. ¬†
Narrow ranges in financial markets speak to indecision or an unwillingness to take too much of a stand ahead of potentially important developments. ¬†In the case of the current narrow range (which affects stocks as well as bonds), markets may be waiting for one of several big-ticket events in the coming days.¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.