Limited Lender Participation Leaves Mortgage Rates Unchanged

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Posted To: Mortgage Rate Watch

Mortgage rates were unchanged on Friday , based on the small minority of lenders who remained open. Taken together with the first three days of the week, rates moved higher at first and have now leveled off in conservative territory. In this context, "conservative" means "higher than they otherwise might be," and we'd ascribe that phenomenon to the lack of participation surrounding the holiday. In other words, it's not uncommon to see rate sheet pricing be a bit more conservative into long weekends. Despite the fact that markets were technically open for half a day today, most lenders were not. Additionally, markets generally treat the Thanksgiving holiday as a four day weekend. Best Execution on 30yr Fixed Conventional loans remains at 3.375% ( Read More:What is A Best-Execution Mortgage Rate...(read more)

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Source: www.mortgagenewsdaily.com

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