Mortgage Rates Jump Back To Recent Highs

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Posted To: Mortgage Rate Watch

Mortgage rates moved back up to the highest levels of the week , confirming a bumpy ride between now and next week's big jobs report. The day began in a docile enough fashion but was soon disrupted by stronger than expected economic data. Trading conditions deteriorated further in the afternoon prompting many lenders to recall rate sheets for a mid-session move higher. With those changed, the closing costs associated with the current 4.0% best-execution rate moved back to the highs seen on Tuesday afternoon. Yesterday's thoughts (after two days of improvements in rates) still apply. It continues to be the case that we could move sideways to lower, and of course rates just demonstrated their willingness to snap back to recent highs: The important message is that we're not out of the woods on...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/310929.aspx

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