Mortgage Rates: Near One-Month Lows. Again.

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Posted To: Mortgage Rate Watch

If yesterday gave fence-sitters a taste of the downside risks associated with floating, today shared the rewards. Today's 10-year Treasury note 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 did improve. 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. We're going to need a sustained bond market rally to see "Best Execution" break through the 4.875% barrier. From: Mortgage Pricing Hits Wall. Loan Demand Declines "Lenders have moved the Best Execution 30-year fixed note rate as low as they possibly can without drastically...(read more)

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Source: www.mortgagenewsdaily.com

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