Mortgage Rates: Stalled Positive Progress

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Posted To: Mortgage Rate Watch

It was another volatile day in the mortgage market. Don't let that distort your perspective of reality though. When looking at the behavior of mortgage rates on a longer timeline, loan pricing has steadily improved over the past two/three-weeks. But positive progress has officially stalled out and now we're bouncing around a relatively tight range. We've gone sideways..... The session started with lenders offering improved loan pricing vs. yesterday's quotes, but as the day wore on mortgage-backed securities prices slowly slipped lower and lower. This forced many lenders to reprice for the worse. The damage was minimal though. For the most part closing costs barely budged. The Best Execution 30-year fixed was unchanged. CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage...(read more)

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Source: www.mortgagenewsdaily.com

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