Mortgage Rates Lower as Markets Grow Anxious Ahead of Fed

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Posted To: Mortgage Rate Watch

Mortgage rates recovered yesterday's losses in many cases, and moved even lower in many other cases. The mortgage sector was one of the tamer performances of the day when it comes to financial markets. Even if we focus solely on the mortgage-backed-securities (MBS) that most directly affect mortgage rates, we see a lot more movement in the marketplace than we see on lender rate sheets. This dichotomy between market movement and rate sheets is fairly common when volatility increases or on the approach to a significant economic event. That's especially true of Friday afternoons. With a big increase in volatility on this Friday before next week's big Fed announcement, today meets all the conditions. Still, rates did drop--just not as much as we might like. The most prevalently-quoted conventional...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/541628.aspx

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