Mortgage Rates: Volatility Finally Swings In Our Favor

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Posted To: Mortgage Rate Watch

Volatility has not been a friend to mortgage rates over the last 30 days, but in the last 36 hours, we've been good buddies! Today put a nice bookend on a bond market correction that began yesterday around noon. This follows a painstaking selloff that played out relentlessly through the end of November all the way into Wednesday morning. Phew. It's about time! The mortgage-backed securities (MBS) that dictate your loan pricing gained much ground today. This allowed lenders to reprice for the better which helped mortgage rates move lower into the weekend. To illustrate the volatility we have created a mortgage rate chart using our loan pricing model. On this graph you will see five different colored lines. Each line represents a different 30 year fixed mortgage note rate. The numbers on the...(read more)

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Source: www.mortgagenewsdaily.com

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