Mortgage Rates are Barely Budging (And That's Great!)

Mortgage rates have been locked in an exceptionally narrow range for most of the month of June, but especially over the past 5 days. Given that mortgage rates are determined by the bond market where trading levels move constantly throughout the day, it can be useful to consider what’s been happening with those trading levels. Long story short, they haven’t been remotely close to moving any higher or lower than the highs and lows seen last Wednesday. In other words, Wednesday’s range set the boundaries of the current playing field for rates, and they haven’t left the field since then. In terms of actual changes in mortgage rates, we’re talking about a few tenths of a percent in either directi…
Mortgage Rates Newsletter – Market Analysis

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