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Friday's bond market initially opened in positive territory again following weaker than expected results from some key economic data, but it has since given back most of those gains. The stock markets are having a negative reaction to the same news, with the Dow down 62 points and the Nasdaq down 2 points. The bond market is currently up 1/32, which should lead to an improvement in this morning's mortgage rates of another .125 - .250 of a discount point. ..more
Mortgage 101 Once a simple task that meant comparing the fixed interest rate mortgages of a dozen or so lenders, the mortgage search today is more like finding your way through a maze. There are dozens of loan types, hundreds of loan programs and thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms originating loans...more
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