Mortgage rates increased moderately to begin the new week/month and had been increasing in general during the previous week.  The net effect is some lenders are quoting rates that are an eighth of a point higher compared to those seen at the beginning of last week, and an average rate quote that's as high as it's been in just over 2 weeks. 

In the bigger picture, this amount of movement is fairly tame.  The average top tier rate offering is still easily under 4.0% and recent volatility is not nearly as big as that seen in September.  All that to say, today in and of itself is no major cause for concern.  It's the coming weeks and months that we should worry about.

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