Mortgage rates¬†were steady to slightly higher today, largely maintaining the improvements seen last week. ¬†Underlying financial markets were calm and very few lenders adjusted rate sheets during the day.
Last week's gains happened all at once on Friday. ¬†They fully erased an entire week's worth of rising rates. ¬†That said, most of the movement in recent weeks has occurred in a very narrow range overall. ¬†The average borrower will have seen a quarter of a percentage point of movement at the most.
When rates fell last Friday, we were looking to the current week in order to confirm the potential shift in momentum. ¬†...(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.