Mortgage rates find a direction: down, barely

By Marcie Geffner -

Mortgage rates stood nearly still this week, edging down slightly in the absence of any news that would send rates decisively in either direction.

Market rates were "kind of trying to find a direction" after Federal Reserve Chairman Ben Bernanke signaled in mid-June that the central bank might stop its quantitative easing program later this year, but then began backpedaling after investors panicked and rates rose, says Stephen LaDue, a senior loan officer for PrimeLending, in Brookfield, Wis.

Rates might remain calm for a while, unless something else happens to shake up the status quo. And there are plenty of "something elses" that could occur.

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