Mortgage rates moved higher for the 6th time in the past 7 business days, even after several lenders offered mid-day improvements in the afternoon.  That leaves them at their highest levels of the year, although things were worse for most lenders earlier this morning.

4.25% remains the most prevalent quote on top tier conventional 30yr fixed scenarios.  Like yesterday, a few more lenders moved up to 4.375%.

It continues to be the case that there is little rhyme or reason to the short-term market movements causing volatility for rates.  The bigger picture themes are more relevant.  Those themes suggest a trend toward higher rates has taken shape although the implications would be more severe if rates break above mid-December's highs.  While we're not there yet, it's safest to assume that's where we're headed until/unless we see a big shift in the other direction.