Mortgage Rates Vary By Lender, But Unchanged On Average

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Posted To: Mortgage Rate Watch

Mortgage rates were unchanged today, with some lenders raising costs just slightly while others were markedly improved. Taken together, there was no change in the average borrowing cost associated with the current 3.5% b est execution ( what is this? ) for 30yr Fixed loans. The discrepancies between lenders and the nearness to unchanged levels are products of a market that was both positive and negative for interest rates and MBS, the mortgage-backed-securities that most directly influence mortgage rates. Bond markets were weaker earlier in the day but made up ground just in time for most lenders to base their rate sheets on the stronger MBS levels. When there is a lot of movement in MBS between 9-1030am, it can create these moderate discrepancies between lenders. Another aspect of the positive...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/305049.aspx

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