Mortgage Rates Drop To 2-Month Lows Before Important Jobs Data

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Posted To: Mortgage Rate Watch

Mortgage rates continued moving significantly lower today, extending a rally that brought them to their best levels in a month yesterday. Because of the reasonably narrow range before that as well as size of today's move, rates are now in line with their lowest levels since late January! B est execution ( what is this? ) rate for 30yr Fixed loans is arguably moving to 3.5% among the most competitively priced lenders. Even at 3.625%, most lenders are charging significantly lower costs (or offering more rebate, depending on the scenario) today vs yesterday. The improvements today were primarily fueled by yet another weaker-than-expected employment report. Yesterday's rates benefited from weaker employment readings from ADP (the payroll services company, who puts out a monthly tally of new private...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/302909.aspx

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