Mortgage Rates: Still Stuck But Lender Credits Likely

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Posted To: Mortgage Rate Watch

Home loan borrowing costs improved again today, but Best Execution mortgage rates were unchanged. Nervous tensions surrounding the potential economic impact of the earthquake in Japan sent a shock-wave through global markets. U.S. stocks suffered and as is often the case during equity sell-offs, bond markets benefited, including those that directly influence mortgage rates. If that sounds familiar, it's because we wrote it yesterday! And it still applies... Although the "flight-to-safety" was much more pronounced today, the net effect was only a modest reduction in consumer borrowing costs. Best execution mortgage rates are still stuck. A flight to safety happens when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds...(read more)

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Source: www.mortgagenewsdaily.com

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