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The Uncommonly Strong Case For Locking a Mortgage Rate

Posted To: Mortgage Rate Watch

Almost everywhere you look, low mortgage rates are in the news. Experts are claiming they’ll remain low or move lower for years to come. They might be right! But that doesn’t necessarily mean you should wait to refinance or to lock your rate if you’re already in the loan process. It is true that mortgage rates improved noticeably earlier this week. Part of the improvement is due to overall gains in the bond market following last week’s Federal Reserve scare. When the Fed updated its policy framework, the bond market was briefly spooked. A spooked bond market means higher yields/rates. The next 5 business days brought a deliberate recovery for longer-term rates. This can be seen in the following chart of 10yr Treasury yields (a benchmark for all longer-term rates in the US). Definitely make…(read more)

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