Following better than expected manufacturing data, domestically and abroad, Treasuries and Mortgage Backed Securities sold off yesterday, returning all the gains mortgage rates enjoyed from Friday’s rally. The selloff in secondary markets moved the par 30 year fixed mortgage rate back over 5.00% after it reached 4.875% on Friday. Once again, rates fail to remain below 5% for an extended period of time.
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Mortgage Rates Rise. Discussing Good Faith Estimates
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