Mortgage Rates Extend Gains As Headlines Rock Markets

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Posted To: Mortgage Rate Watch

Mortgage rates continued to bounce back , moving lower for a second straight day after rising on the first two days of the week. Net/net, the movement brings rates back almost perfectly to last Friday's levels on average. That means that best-execution is easily available at 3.375% and increasingly so at 3.25% depending on the lender and scenario. ( Read More:What is A Best-Execution Mortgage Rate? ) We noted yesterday that the first two days of the holiday-shortened week were something of a concern as mortgage markets underperformed broader bond markets. Yesterday was the first promising day of reversing that trend, and it continued to moderate today. Markets were helped along by a barrage of headlines that had significant effects on stocks and bonds alike. Everything seemed to be fair game...(read more)

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Source: www.mortgagenewsdaily.com

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