Mortgage Rates Officially Hit New 2013 Lows

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Posted To: Mortgage Rate Watch

Mortgage rates finally made a break from their recent flat and sideways pattern, moving officially to the best levels of 2013 by a small margin (this may vary slightly depending on the lender). The day-over-day improvement isn't out of line with average fluctuations in rates, but against the backdrop of the past two weeks, it stands out. Most lenders have been competitively priced between 3.25-3.5% on 30yr Fixed, Conventional loans. While the best execution rate has been 3.5% with 3.375% looming, today's improvements probably tip the scales in favor of 3.375% for some scenarios. Lower rates are available at most lenders and the costs associated with moving lower from 3.375% may make sense for some borrowers. Since hitting their highest levels in more than 10 months last month, rates have improved...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/306213.aspx

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