Mortgage Rates Avoid More Pain, Even if Only For Today

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Posted To: Mortgage Rate Watch

Mortgage rates had a bad October . November hasn’t exactly been great either, with last Thursday being one of the worst days of the year in terms of day-over-day jumps in rates. In addition to the abrupt move, last week’s weakness also brought rates in line with their highest levels in more than 3 months. All of the above could be part of a bigger shift away from the prevailing trend toward lower rates (which had been intact since last November) and into a new trend of rising rates. This newer, unfriendlier trend arguably tried to make an appearance in mid September but was quickly shut down as rates nearly returned to the super-long-term lows seen earlier that month. Notably though, they failed to make it all the way back down to those lows, and that can be an early warning sign of a shift…(read more)

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