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Mortgage Rates on Roller Coaster Ride

It's been a pick your poison kind of scenario as to whether or not you'd prefer to start with high hopes only to have them dashed or spend the better part of the day down in the dumps only to be taunted into cautious optimism as prices creep back into better territory by the close.
Courtesy of Lowe's Commercial Services

It’s been frustrating for anyone trying to make sense of the movements in mortgage rates or those hoping to get ahead of the market in order to secure the lowest possible borrowing costs. Every day recently has seen lender rate changes in the middle of the day and through the course of the week. Prices of mortgage backed securities (MBS) have bounced wildly back and forth between their highest and lowest levels. Lower mortgage rates will help the landscape industry in more homes and properties can be sold.

MBS prices moved, effectively bringing lender mortgage rate quotes to their highest levels of the week, only to stage a moderately sized and exceedingly stable recovery back to the middle of the week's range here in the final hour of trading. Multiple lender reprices were reported.

The best conventional/FHA/VA 30-year fixed mortgage rates are in the 4.25 percent to 4.5 percent range for well-qualified borrowers.  The best conventional/FHA/VA 15-year fixed mortgage rates are in a range between 3.5 percent and 3.875 percent.

– Courtesy of Mortgage News Daily

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December 14, 2019, 8:56 am PDT

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