Mortgage Rates: Complete Stagnation

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Posted To: Mortgage Rate Watch

After looking like they might improve this morning, home loan borrowing costs ended the day unchanged, making today the FIFTH consecutive session where loan pricing has remained the same or worsened by a thin margin. It’s like Groundhog Day in the bond market. Today’s economic data and news headlines did very little to motivate investors. Many market players seem to be waiting on the sidelines in preparation for their next move. We’re hoping to see some semblance of activity in the last two days of the week . Since the environment has been so similar from day to day, so too is our guidance. CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is 4.875% after falling to 4.75% briefly last Wednesday (not universally, but in some cases). For those looking...(read more)

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Source: www.mortgagenewsdaily.com

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