Mortgage Rates Bounce Lower to Remain in Recent Range

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Posted To: Mortgage Rate Watch

It was a good day for mortgage rates . After moving higher at a somewhat disconcerting pace last Friday, rates were quickly approaching the upper boundary of their post-Brexit range as of yesterday. Today, however, they bounced nicely lower, keeping them well within the range. There’s always some apprehension involved when we’re waiting for rates to break out of a narrow, sideways range, but in the current case, it’s made more tolerable by the fact we’re just a few eighths of a point above all-time lows. Lenders are quoting conventional 30yr fixed rates in a range of 3.375% to 3.5% on top tier scenarios. For a few days in late 2012, the lowest comparable range was 3.125-3.25%. For some, today’s strong move in rates (and in underlying bond markets) is evidence that investors are interested in…(read more)

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