Mortgage Rates Showing Little Movement

Mortgage rates basically were unchanged today as there was hardly anything out there today to move them one way or another, despite moderate improvement in underlying bond markets. 

I have been stating now that the mortgage rate movement continues to take place inside an exceptionally narrow range.  For the past 3 weeks, most borrowers would be quoted the exact same NOTE rate from most lenders, with the only variation coming in the form of upfront cost. 

Janet Yellen was to have talked this afternoon, but I have yet to see anything for me to comment on, so I will wait until my morning report tomorrow.

In summary, bonds seem quite content to idle in place now, with today's rates mirroring Friday's.  Markets gave bonds ample reason to rally Friday (Syrian missile attacks, luke-cold March jobs report), and bond markets just yawned.  Looks like that is the short-term trend.  I do not know how much up or down side there is to float now.