Mortgage ratesÂ were steady to slightly higher today, largely maintaining the improvements seen last week. Â 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. Â They fully erased an entire week's worth of rising rates. Â That said, most of the movement in recent weeks has occurred in a very narrow range overall. Â 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. Â