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Biggest Jump in 2 Months For Mortgage Rates

With most lenders still easily able to quote a 30yr fixed under 3%, mortgage rates are very low in outright terms.  But relative to the recent trend and the general level of volatility, today was a bit rough.  Rates rose as fast as they’ve risen since early June, ultimately hitting the highest levels in more than 2 weeks. 
Some prospective borrowers will now be looking at an eighth of a point (0.125%) increase versus yesterday’s rates.  That comes out to roughly $20/month on a $300k mortgage.  Others will experience the shift in the form of higher upfront costs (or a lower lender credit).  Either way, today is noticeably more expensive than yesterday….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed

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