Mortgage Rates Refuse to Remain Below 5.00%

Last week mortgage rates were up, then they were down, then they were up, then on Friday they finally moved under 5% again. Following a successful auction of 7 year notes on Thursday and weaker than expected economic data on Friday many lenders repriced for the better…bringing mortgage rates barely below 5.00%. However, in what has become a consistent pattern lately, each time rates break the 5% barrier they do not remain there very long., and guess what…so far this morning that trend is continuing. …(read more)
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