Mortgage rates held steady today, after moving higher for the past 3 days. Underlying market movement was slightly calmer than it has been in recent days. Stocks were less eager to make new highs and bond yields (a key consideration for mortgage rates) actually moved slightly lower. Taken together, this could be a sign that this week's small spike in mortgage rates may have run its course.
On the other hand, the battlefield of market-related decision making is riddled with casualties from those who've jumped to such conclusions too early. In other words, we can see some potentially promising developments in for rates when it comes to the way markets traded today, but it's too soon to plan on rates falling back to recent lows just yet.