Mortgage Rates are near unchanged as they continue to churn just below resistance with no clear catalyst to push prices higher.

The markets await testimony by Fed Chair Powell this morning beginning at 10:00 a.m. ET. Mr. Powell will be speaking on the current state of the U.S. economy on Capitol Hill in front of the Senate Banking Committee.

I don’t expect much surprise within the prepared testimony, but you never know what can be said in the Q&A session.

I will continue to recommend locking in the short-term, 30-days or less until closing. Longer-term, floating is prudent.

Life consists not in holding the good cards but in playing those you hold well.

-Josh Billings


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