Mortgage Interest rate wrap

Mortgage rates began the day in slightly higher territory, but most lenders adjusted rate sheets mid-day, bringing the average rate just below yesterday's latest offerings.  Underlying market conditions are as much a culprit in the welcome turnaround as anything.  Conventional 30yr Fixed quotes for the most ideal scenarios are still most readily found at 4.625% though some lenders are an eighth higher or lower.

The typical correlations between economic data and market movements broke down to some extent (for the 4th time this week) due to lighter participation among traders and looming geopolitical uncertainty surrounding Syria. In the same way that markets refused to take rates any lower on Tuesday afternoon, they weren't eager to take them any higher this morning.  It continues to be the case that the biggest movements will be dependent on more thorough market participation, which isn't guaranteed to show up until next week.