Mortgage rates¬†moved higher today, bringing them back in line with the highest levels in nearly a month. ¬†That sounds a bit worse than it actually is, due to the narrow range of rates over that time. ¬†In fact, most prospective borrowers would be quoted the same rate as yesterday, with the only difference being slightly higher upfront costs.
With extended periods of narrow ranges comes increased odds for a bigger move. ¬†There's never any way to tell if such a move will be higher or lower--only that it's more likely. ¬†This is especially true as we head into big-ticket events like tomorrow's jobs report. ¬†Traders are also tuned in to the weekend's French election results and the various political headlines coming out of Washington. ¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.