Mortgage Rates: Best Execution Moves Higher

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Posted To: Mortgage Rate Watch

A 7-week mortgage rates range was finally broken last Thursday and Friday. The directional move was not consumer friendly. "Best Execution" home loan borrowing costs have risen. On the surface, a higher "Best Execution" conventional 30 year fixed mortgage rate was triggered by the release of the Employment Situation Report, which told us the unemployment rate declined to 9.00% in January. But we know that report was filled with weather related noise, statistical adjustments, and survey description distortions. READ MORE... Employment Situation Report: WHAT A HEADACHE! When taking a more technical approach on the distribution of blame, we might say stored energy was released from a coiling bond market as indicated by a "Bear Flag" pattern in benchmark 10 year Treasury notes. If you're interested...(read more)

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Source: www.mortgagenewsdaily.com

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