Despite mixed economic reports last week, mortgage rates held near four month lows as prices of mortgage-backed securities approached four month highs. General weakness in stock markets contributed to the rally in fixed income and mortgage rates. As stock sold, Treasuries rallied, MBS moved higher in price, and lenders were able to pass along better mortgage rates…bringing the par 30 year fixed rate mortgage to 4.75% by week’s end. …(read more)
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Mortgage Rates Steady Ahead of Busy Week
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