Mortgage Rates Hold Steady Despite Volatility in Other Markets

Sometimes being tuned into daily mortgage rate changes means coming across other news about financial markets. In today's case, that could expose you to anything from the massive selling of certain stocks earlier in the day or the unprecedented trading levels in various commodities.  While the financial market buzz may be centered on silver and gold (and Microsoft, today), mortgage rates drifted quietly sideways. That's no surprise considering rates are based on trading in the bond market and bonds were roughly unchanged. This keeps the average top tier 30yr fixed rate at 6.16%.  Apart from the week of Jan 12-16th, this is right in line with the lowest levels going back to early 2023.