It seems almost melodramatic to refer to any modest increase in mortgage rates these days.  If we were to go over each lender’s rate sheet with a fine tooth comb today, indeed we’d likely find the average is just microscopically higher.  But higher from WHERE?  With the very best scenarios seeing 30yr fixed rate quotes of 3.0% or below, it’s hard to spend too much time lamenting any modest day-over-day increases.

Beyond that, most of the recent movement has been very small--too small to measure in terms of changes in the actual interest rate you’d be quoted.  Instead, there could simply be a minor adjustment in the upfront costs (origination, discount, or lender credit toward closing costs, depending on the scenario).

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