Mortgage Rates Hold Steady Near 4-Month Highs

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Posted To: Mortgage Rate Watch

Mortgage rates did something they haven't done on any other day so far this month. They avoided moving higher. While that's a welcome change, to be sure, today's rates didn't move any lower on average. This keeps them in line with the highest levels in nearly four months. The journey has been a quick one as well, with the spike from 6-month lows to 4-month highs happening in just under 2 weeks. Lenders are easily back into the low 4 percent range. There's a relatively even split between aggressive lenders quoting 4.0% and less aggressive lenders at 4.125% on top tier conventional 30yr fixed scenarios. Yesterday, we discussed the possibility of rates experiencing a day like today simply because rates are increasingly likely to take a breather after an extended move in the same direction. This...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/529479.aspx

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