Mortgage Rates Continue Barreling Toward 2013 Highs

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Posted To: Mortgage Rate Watch

Mortgage rates began the day in promising shape, but lost their composure early and often. Despite several lenders releasing their initial rate sheets today in line with yesterday's, the afternoon brought 1-3 rounds of new rate sheets with costs significantly increased from morning offerings. The best-execution rate for conventional, 30yr fixed loans has already moved most of the way through 3.625% and some lenders are edging into 3.75% territory. Today's losses weren't a factor of any economic reports in the US (or abroad, for that matter), yet markets moved with determination. All of the more granular contributors are operating in the shadow of the FOMC issues we discussed yesterday . Today was additionally frustrating as the granular factors were particularly hard to find, having lots to...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/308625.aspx

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