Mortgage Rates Roughly Unchanged to Start New Week

After hitting the lowest levels in nearly a year (and nearly the lowest levels in 3 years) last Tuesday, rates lurched higher following Wednesday's Fed announcement.  While the Fed cut rates as expected, and while the Fed's rate forecasts were well-received, Powell's guidance pushed back in the other direction.  Economic data on Thursday morning made things worse making for a fairly sharp 2-day spike. Things calmed down after that. Friday's rates were a hair lower and now today's rates are right in line with Friday's. In other words, the volatile reaction to last week's Fed announcement is over and the market is waiting for the next source of inspiration. The most prevalent top tier 30yr fixed rate is now closest to 6.375% after briefly hitting 6.125% last week.  We'll hear from