Mortgage Rates Perfectly Unchanged Despite Busy Week

Mortgage rates moved higher (then lower, lower, higher, and lower, in that order) this week--ultimately ending up in the exact same spot as last Friday. The lack of profound movement wasn't due to a lack of potential market movers. There were several important economic reports, including Friday's big jobs report. We also got the most recent installment of the Fed's policy statement . While the Fed didn't make any policy changes, the verbiage in their statement is always scrutinized by investors looking for clues about the next move. By the end of the week, all of the minor ups and downs ended up offsetting each other. The average lender continues quoting conventional 30yr fixed rates in the 4.0-4.125% range on top tier scenarios. - Matthew Graham, Chief of Operations, Mortgage News Daily

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