Following a somewhat disappointing 30 year bond auction yesterday, prices of mortgage backed securities plummeted and mortgage rates moved higher as lenders repriced for the worse. Prices of mortgage backed securities are considerably lower today. Many lenders have already repriced for the worse. Reports from fellow mortgage professionals indicate that par mortgage rates are priced between 4.625% to 5.000% for the best qualified consumers. …(read more)
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Mortgage Rates Move Higher After Bond Auction
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