Mortgage Rates were unchanged again today, on average. Some lenders were modestly better than yesterday. Others were modestly worse. But all were fairly close. This is an eerie level of stability given the fact that rates looked like they were finally breaking out of a 2-month-long holding pattern earlier this week. That said, it could be the case that rates are simply waiting for next week's policy announcement from the Fed before locking in their final answer.
While stability is good, the outright levels are still higher than they were. In fact, with the exception of Monday, this week's rates are the highest in more than 2 months. Silver lining: "high" is still pretty darn low, historically, with 3.5% remaining the most prevalent conventional 30yr fixed quote on top tier scenarios.
Potential volatility remains at least through next Wednesday's Fed meeting.
