Mortgage Rates Lowest In More Than Two Weeks

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Posted To: Mortgage Rate Watch

Mortgage rates moved lower today , extending their rally following yesterday's Italian election news. The situation in Italy continued to represent an unknown when trading got underway in the US and combined with Fed Chairman Bernanke offering no surprises, rates markets held their ground despite stronger economic data. This brings most lenders to their best rate/fee combinations since February 7th while others are now at their best levels in just over a month. In most cases, the Best-Execution rate remains at 3.625%, but 3.5% is as close as it has been in several weeks, and most lenders can offer reasonable trade-offs to move lower in rate (higher costs or decreased lender credit). ( What is A Best-Execution Mortgage Rate? ) The key takeaway from today's market activity is that Europe-driven...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/297639.aspx

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