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Mortgage Rates Bounce Higher, Snapping 4-Day Streak; Buying Cheaper Than Renting in most Major Counties

Mortgage Rates Bounce Higher, Snapping 4-Day Streak; Buying Cheaper Than Renting in most Major Counties

Mortgage rates rose fairly quickly today, ending the best 4-day winning streak since early March. On a positive note, this only takes us back in line with Monday's rate offerings, which were the lowest in 3 weeks at the time. In other words, the past 2 days have been erased. For most lenders that means moving back to conventional 30yr fixed rates of 4.125% for top tier scenarios, but several remain at 4.0%. It continues to be the case that rate quotes are more diverse across the lender landscape due to the varying strategies used to address recent market volatility. That brings us to the next consideration. Volatility is indeed a fixture in 2015 and today's move higher in rates serves as a reminder of how quickly things can (and will) change. In fact, yesterday was the first day where we could
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