Mortgage rates moved moderately higher today, but remained well within the range that’s been intact for at least a month now. During that time, the average conventional 30yr fixed rate quote hasn’t moved more than an eighth of a percentage point (0.125%). Contrast that to some of the more volatile individual days for the bond market which have resulted in that much movement in the space of a few hours.
Interestingly enough, several days during that time have actually come close to that level of volatility, but the trick is that subsequent days were quick to push back in the other direction (thus keeping the range narrow despite moderately high volatility from day to day).
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Source: mortgagenewsdaily.comNew feed