Mortgage Rates Fluctuate Amidst Bank Drama and Covid Uncertainty

Mortgage rates have dropped back to Monday's lows after concerns over Credit Suisse's financial stability led to downward pressure on stock prices and bond yields. The average lender has moved back down to levels seen on Monday, which were the lowest rates in over a month. The future of rates depends on the emergence of additional banking drama, inflation, and the economy, but volatility is expected to remain elevated in the short term.