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Mortgage Rate Mini-Winning Streak Comes to an End

Mortgage rates finally ended this week’s winning streak today.  In light of the general upward trend in rates over the past month, bond yields (which tend to correlate with mortgage rate movement) made it to surprisingly low levels as of yesterday afternoon.  Mortgage lenders responded by dropping rates to the best levels in nearly 2 weeks.
Things changed today as bonds lost ground after the European Central Bank noted a still-decent outlook for the economy recovery and an earlier-than-expected outlook for ending its bond purchase program.  In general, a stronger economy hurts bonds and central bank purchases help….(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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