Mortgage Rates: Setback Suffered. Bleeding Still Stopped

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Posted To: Mortgage Rate Watch

Yesterday was one of those "GOOD NEWS/BAD NEWS" sorta days. The good news was mortgage rates ended a damaging 5 day losing streak The bad news was the bleeding had only just stopped. We weren't recovering. Still, at the end of the day there was a positive perspective to be taken away. "Stop the bleeding" was a required pre-cursor to the "first real chance for notable improvements" that we hoped to see today. Unfortunately those improvements did not come. We got close but lost positive progress before the day was done. Lenders repriced for the worse. That erased yesterday's teeny-tiny bit of betterness (is that a word?). This is a setback for those in need of a rapid turnaround in "Best Execution" mortgage rates. Not a major one. Not yet at least. And we're still a few more bad days away from...(read more)

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Source: www.mortgagenewsdaily.com

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