Jul 1, 2011 12:53PM
After failing on repeated occasions to extend a two-month rally, mortgage rates took the path of least resistance this week: UP The BestEx levee burst . In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are rising. If the line is moving lower, costs are getting cheaper. Sideways mortgage rate behavior followed by an abrupt drop followed by another spell of mostly sideways activity can be seen when looking closely. This spell of sideways activity took place near the...
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