Mortgage Rates Vary By Lender After Friday's Rout

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Posted To: Mortgage Rate Watch

Mortgage rates are very slightly lower in many cases after surging on Friday to the highest levels in nearly 10 months. That said, some lenders continued higher today while others were essentially flat. Overall, the average Best-Execution rate is moderately lower today, but very close to Friday's latest levels. That means that the shift from 3.625 to 3.75% continues to be supported so far this week. 3.75% is the highest best-execution rate we've recorded since May of 2012. ( What is A Best-Execution Mortgage Rate? ) Perhaps taking a cue from the unofficial Daylight Savings Time canon, markets definitely "slept-in" today. Both Treasuries and Mortgage-Backed-Securities (MBS) scarcely budged after moving violently on Friday and putting in the biggest full week of losses in exactly 1 year last...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/299528.aspx

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