Mortgage rates improved moderately today, making this the 4th straight business day without any new weakness (aka "higher rates").  It's necessary to include "days that haven't been bad" in that tally because two of them merely saw rates hold flat.  That's about as much of a victory as we have been able to hope for ever since Septembers abrupt little rate spike began just over 2 weeks ago.  

What are we talking about here in terms of actual damage?  Well, not much in the bigger picture.  In worst-case scenarios, some borrowers may have seen their rate quotes move an eighth of a percentage point higher during this time.  In general, "improvement" and "deterioration" have been best-measured by the upfront costs associated with any given rate quote while conventional 30yr fixed rates themselves have remained in a 3.875%-4.00% range for top tier scenarios.