Mortgage Rates Drift Down To One Month Lows

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Posted To: Mortgage Rate Watch

Mortgage rates edged gently lower on Friday , bring to a close their best week since mid-January. The catalyst for the relatively more positive week of rate movement--the Italian election results out Monday morning--had their biggest effect on Monday itself with subsequent days either drifting sideways or improving modestly. With today keeping that trend going, best-execution on 30yr Fixed, Conventional Loans is beginning to edge into 3.5% territory for some lenders but remains most commonly at 3.625%. 3.75% will still be a viable option for some scenarios and sub 3.5% rates remain reasonably efficient down to 3.25% (" efficiency " in terms of the extra costs paid to get the rate lower versus the decrease in monthly payments). ( What is A Best-Execution Mortgage Rate? ) The trading day was...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/298265.aspx

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