Mortgage Rates Remain at Mercy of Broader Markets

After bouncing around a wide range last week, prices of mortgage backed securities returned to Monday's opening levels on Friday, forcing lenders to increase mortgage rates a few basis points, bringing the par 30 year fixed mortgage rate back above 5.00% This range bound theme has held consistent throughout the summer. Over the last few months, mortgage rates have stayed between 4.875% and 5.75%.
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