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Mortgage Rates Hold Steady Despite Market Volatility; Builder Confidence Unchanged for 3rd Straight Month

Mortgage Rates Hold Steady Despite Market Volatility; Builder Confidence Unchanged for 3rd Straight Month

Mortgage rates held steady today , leaving them just off the lowest levels in nearly three years. Market conditions were somewhat volatile surrounding a weekend meeting in Doha regarding potential changes in oil output. Oil prices fell precipitously to begin the week as producers failed to reach an agreement. What does that have to do with mortgage rates? Oil prices have had varying amounts of impact on broader markets for more than a year now. While it's far from a direct relationship, oil prices and interest rates have tended to move in the same direction at the same time. Today was no exception, generally speaking. After oil's initial losses overnight, rates looked set to begin the day with an advantage, but by the time lenders worked up the days first rate sheets, bond markets had given
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