Hot news from AZ Home Help:
Posted To: Mortgage Rate Watch
Mortgage rates had a good day, despite the fact that the day-over-day change from yesterday is flat to slightly higher. Part of the reason for the higher average rate (by .01%) today has to do with late day negative reprices yesterday that weren't yet reflected in our daily marks. This helps the best-execution rate for conventional, 30yr fixed loans, stay in it's 3.625% zone. Lower rates continue to be viable options in some scenarios, but are increasingly costly, moving lower from 3.625%. Bond markets, including MBS (the 'mortgage-backed-securities' that most directly affect mortgage rates), have been on the back foot all month, with the latter making a new low every single day since May 1 (when MBS move lower, rates move higher). Today's trading had the redeeming quality of NOT making a new...(
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Source:
http://www.mortgagenewsdaily.com/consumer_rates/308827.aspx - For more real estate news visit our website at http://www.AzHomeHelp.com
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