Mortgage Rates were steady to slightly higher today, depending on the lender--a relative victory considering the potential volatility associated with today's jobs report. Though bigger bullets may have been dodged, the lack of improvement means rates remain near their highest levels in several weeks--potentially on the verge of the next "directional trend." What's a directional trend? Just a fancy way of labeling the phenomenon where rates are moving either higher or lower fairly consistently. In stark contrast, the past 2 months have been almost completely directionless--a "sideways trend" if you will. When it comes to financial markets, these sorts of sideways trends--especially those that bring rates into an increasingly narrow range --tend to resolve with the beginning of the next big push
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