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Mortgage rates finally moved in a direction that wasn't "up" today. That said, it's debatable whether the direction would be best described as "lower" or "sideways." To those who don't check in with rates too often or who aren't excited by saving a couple hundred bucks in closing costs, rates are sideways. But for those for whom every little bit counts, the today's upfront costs would be slightly lower than yesterday's for any given interest rate quote. The upfront cost portion of a loan quote offers lenders more of a fine-tuning adjustment compared to changing actual rates, which tend to be offered in 0.125% increments. Markets typically don't move enough in a single day for a 0.125% change in rates. Upfront costs help adjust lender/borrower costs in those cases. Despite the relatively flat
Mortgage Rate Watch
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Mortgage rates finally moved in a direction that wasn't "up" today. That said, it's debatable whether the direction would be best described as "lower" or "sideways." To those who don't check in with rates too often or who aren't excited by saving a c... (read more)
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MBS Commentary
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Although the 10am ISM Manufacturing Report can definitely have an impact on bonds today, The 2pm FED Announcement at 2:30pm press conference is the biggest to-do. There's effectively no chance that the Fed will make any change to ... (read more)
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Housing News
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Publicly and privately funded construction put in place in March had an estimated value of $1.282 trillion on a seasonally adjusted annual basis. This is up 0.9 percent from the February total of $1.293 trillion but is down 0.8 percent from March 201... (read more)
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Housing News
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Despite a decline in interest rates, mortgage volume took a significant hit during the week ended April 26. The Mortgage Bankers Association (MBA) reported that its Market Composite Index and all of its week-over-week components fell, some for the fo... (read more)
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MBS Commentary
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Open up MBS Live today and you'll be greeted with plenty of reassuring green numbers and positive reprice notifications. Unfortunately, those reprices were taking mortgage rates from moderately higher to slightly higher. The only substa... (read more)
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MBS Commentary
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Information received since the Federal Open Market Committee met in January March indicates that the labor market remains strong but and that growth of economic activity has rose slowed at from a its solid rate in the fourth quart... (read more)
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consumerfinancemonitor.com
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