Source: Mortgage News Daily —
Mortgage rates have been moving lower for the past 3 weeks after hitting the highest levels since 2008 in the middle of June. This was a larger-scale repeat of a similar pattern that played out in the month of May. Taken together, these patterns suggest the rate market is broadly trying to find a ceiling after 2022 began with 6 of the worst months on record.
That’s the good news.