Mortgage Rates Take a Breather

Mortgage rates increased slightly today after two consecutive days of declines. Mortgage rates have been in a tight range between 4.05% and 4.25% for the past several weeks. We expect mortgage rates to continue to be range bound for the foreseeable future. Mortgage rates today on 30 year mortgages are averaging 4.19%, an increase from yesterday's average 30 year mortgage rates of 4.12%. 15 year mortgage rates headed in the opposite direction declining 4 basis points to 3.41%.