Mortgage Rates continued avoiding drama today, moving moderately lower as bond markets held on to gains that followed yesterday's Fed Minutes. As we discussed yesterday, the Fed didn't say anything earth-shattering, but some investors were prepared for more clues about rate hikes in the near term. When those clues didn't show up, rates were able to come back down just slightly. Rates first improved in the secondary markets and Treasuries. When markets move in the afternoon--especially if that movement is just barely enough for a lender to consider changing rates--lenders will often wait until the following morning to make the adjustment. This was the case today as most lenders were in better territory right from the start. The improvement isn't enough to change actual interest rates, which
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