Mortgage Rates: Closing Costs Improve. Best Ex Stuck

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Posted To: Mortgage Rate Watch

You'll have to look closely in order to see a difference between the introductory paragraphs of today's commentary and yesterday's... Today's 30-year Treasury Bond Auction was a net-positive for mortgage rates... and while the best-execution 30-year fixed mortgage rate did not decline, the upfront cost to obtain that rate quote improved further. We are once again near one-month lows in mortgage rates. We've been here a few times over the past month though, it's where positive progress has stalled everytime the environment indicated lower rates were ahead. CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate is still 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying down your rate...(read more)

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Source: www.mortgagenewsdaily.com

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