Mortgage rates maintained recent sideways momentum today, holding inside a narrow range established last week.  This range is particularly interesting to mortgage rate watchers because it is very much in the middle of 2 distinct zones.  One of those zone is the recently-achieved lows.  Technically, these were the lowest levels in more than 2 years, but the best few hours were very close to all-time lows.  

The other zone is still far from being considered "high"--except inasmuch as we could say 30yr fixed rates were in the "high 3's"--but it is a range that we've spent quite a bit more time in recently.  More problematically, moving back into the "high 3's" zone would make it look like rates had officially bounced at those multi-year lows and would now be heading steadily higher.  The verdict can't be rendered until we see more decisive movement higher or lower.

For now, the most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios.  Some of the less aggressive lenders are back up to 3.75%, but that was the case as of late last week as well.