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Mortgage rates just had another one of those "back and forth" weeks. Fortunately, while the road was rocky (lots of reprice alerts), total consumer borrowing costs went into the weekend near their most aggressive levels of the year, only slightly above record lows. The latest round of "ups...
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Mortgage rates greatly benefited from headline news yesterday. Around mid-morning we learned that Standard and Poor's had cut Greece's government debt rating all the way down to junk. That is as low as ratings go! Stocks, which have rallied for eight consecutive weeks, sold off sharply on the...
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Mortgage rates yesterday recovered the rate sheet losses lenders passed along to consumers last Friday. The was no specific reason for the modest improvement. Economic data was absent and trading activity was slow. For the most part, lenders were able to share small gains because mortgage-backed security...
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Mortgage rates bounced back and forth in a relatively tight range before going out at their highest levels of the week last Friday. Although prices of mortgage-backed securities managed to rally of their lows of the day, most lenders did not reprice for the better. The only economic data we got today...
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Mortgage rates have been under fire lately as a streak of positive economic data has forced benchmark Treasury yields higher resulting in lower mortgage-backed security prices. These MBS price depreciations have forced lenders to increase mortgage rates. This continued yesterday with another round of...
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Home Today's Headlines ATW Forums Q&A Mortgage Rates Top Stories How Did the FOMC Meeting Affect Mortgage Rates? The Federal Open Market Committee (FOMC) met for a one day meeting today. Usually they meet for two. At 2:15, the FOMC released their statement on monetary... - Mortgage Rate Watch Dodd...
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For mortgage rate watchers and interest rate shoppers, last week was rewarding. Lenders were able to offer progressively lower mortgage rates as prices of mortgage backed securities moved higher and higher over the course of the week. By Friday lenders had passed along the best rates of 2010. Improvements...
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Minutes from the Federal Open Market Committee's March 18 meeting revealed several members saw a risk of a "prolonged and severe" downturn and that there had been "little indication" of stabilization in the U.S. housing market. Officials had concerns that price expectations might loosen and had discussed...