Mortgage Rates Inch Modestly Higher From 7 Month Lows

Yesterday was the most interesting day of the past 2 weeks, but that's not saying much.  The past 2 weeks have been the calmest for mortgage rates in more than a year with the average lender essentially unchanged since December 14th.  Yesterday's excitement came in the form of a more normal level of volatility.  It didn't hurt that the volatility happened to be in the direction of lower rates. With that moderate improvement, the average lender was just barely at the lowest levels since May 2023.   Today saw a push back in the other direction, but not nearly as "normal" in size as yesterday's drop.  As such, apart from yesterday, the average lender is still in line with 7-month lows.