Mortgage Rates Hold Steady

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Posted To: Mortgage Rate Watch

Mortgage rates were little-changed today after rising somewhat quickly over the past 4 business days. This leaves them right on the top dead center of the proverbial fence. Or perhaps it’s fairer to say A proverbial fence. While rates are like any other financial instrument whose future can’t be predicted, they do tend to pause and congregate at some levels more than others. We’ll often see rising rates repeatedly run into a ceiling that goes on to become a floor in the future. This cycle can often repeat itself several times. That’s the sort of fence we’re dealing with at the moment. This fence marked a low range for rates in late April after having been more of a ceiling in Feb/Mar. Most recently, rates broke back below the fence with last week’s European political drama. Now, as that drama…(read more)

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