Mortgage Rates Bounce Higher to Stay in Range

Mortgage rates bounced higher today , after 2 solid days of improvement. In the bigger picture, rates are still closer to the lowest levels of the past month, but it’s worth mentioning that the range is incredibly narrow over that time. Most lenders have been quoting either 3.375% or 3.5% on top tier conventional 30yr fixed scenarios. Today’s increase acted to reject a potential break below the range as it wouldn’t have taken much more improvement to see more 3.25% quotes showing up. Bottom line, we’re back to waiting on the range to be broken. It could take weeks at the pace we’re going, but would not likely take longer. Reason being: markets will almost certainly come away from Janet Yelle…
Mortgage Rates Newsletter – Market Analysis

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