Mortgage rates moved higher today, keeping them locked in this week’s new, higher range. The movement wasn’t enough to change the actual rate a borrower is likely to be quoted (conventional 30yr Fixed best-execution rate currently 4.125%). Instead the day over day change would be seen primarily in the form of increased borrowing cost. Additionally, the tendency for individual lenders to make drastically different moves than the average of their peers continues to be an issue. Volatility in capital markets begets volatility on rate sheets and between lenders. It’s not likely to die down meaningfully until after next week’s FOMC Announcement at the earliest. Click here to read more