Mortgage Rates Hold On to Lower Levels After Tax Bill Doubts

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Posted To: Mortgage Rate Watch

Mortgage rates held on to yesterday’s gains in most cases. Some lenders were even in slightly better shape today, but not enough to have an effect on anything beyond the upfront costs associated with any given rate quote. Rates themselves would be right in line with yesterday’s. That’s not a bad thing considering yesterday afternoon brought effective rates near their lowest levels of the month. In this case, lower “effective rates” refer to lower upfront closing costs (or higher lender credits) for the prevailing top tier conventional 30yr fixed rates of 4.0%. Bond markets (which underlie interest rate movement) continued to pay more attention to policy developments than the economic data that traditionally has an impact. In today’s case, it was news that a few Republican senators may not vote…(read more)

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