Mortgage Rates Tick Higher After Stint at Summer Lows

After holding levels not seen since early this summer for over a week, mortgage rates are under some pressure to move higher. Yesterday, mortgage backed securities were lower in price which forced lenders to offer higher mortgage rates. The downward move continued all the way into close which led to some lenders repricing for the worse. MBS, after having been range bound near summer price highs, moved toward the bottom of that range yesterday and has actually fallen to lower levels following this morning's data….(read more)
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