Mortgage rates were mostly able to hold steady today, although they technically moved just a bit higher and that technically leaves them at the highest levels in 7 years. But hey! Let's focus on the positives... In terms of day-over-day changes, today was the best day of the week so far!
To get an idea of where we are and why we're there, check out the last two days of commentary--always easily accessible here.
As for today, it stands at least some chance to serve as the early stage of a ceiling for rates. Whether that proves to be true and how long such a ceiling lasts remains to be seen. In any event, next week's Fed announcement (Wednesday) has the greatest potential to kick off the next set of bigger moves. If volatility dies down between now and then, it would at least be better than what we've seen in the past few weeks.