Mortgage Rates Flat For Second Straight Day

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Posted To: Mortgage Rate Watch

Mortgage rates ended the day in line with yesterday's levels on average, making this the second straight day with unchanged rates and unchanged borrowing costs associated with those rates. While it's not uncommon for the ' best-execution ' rate to remain unchanged for extended periods, it's less common for the COST side of the equation to remain unchanged. Best-execution has been at 3.5% this week after brief stay at 3.375% heading into last week's jobs report. Markets had their most volatile day of the week as the stronger-than-expected Jobless Claims data caused problems for bond markets early in the session. Stronger statements on the economy tend to put upward pressure on rates, all things being equal. Of course, all things aren't equal these days--especially inasmuch as the Fed's bond...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/308035.aspx

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