Mortgage Rates: Costs Creep Higher

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Posted To: Mortgage Rate Watch

Home loan borrowing costs moved slightly higher today. This is the fourth consecutive session where loan pricing has worsened by a thin margin. Best-execution mortgage rates were once again unchanged. Today was not only light on the type of economic data that can move markets, but also on the breaking news headlines that have been dictating the direction of mortgage rates recently. Trading activity was low, as were overall price shifts in the Secondary Mortgage Market. Still, mortgage-backed securities prices were slightly lower on the day, resulting in slightly higher consumer borrowing costs. 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 to permanently...(read more)

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Source: www.mortgagenewsdaily.com

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