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Many consumers, savvy and otherwise are a little confused as to why mortgage rates are not lower than where they are. Today you can get a 30 year fixed rate mortgage at 5.875% with no points and don't get me wrong that is a phenomenal rate historically. But if you look at where banks are borrowing at you would expect that rate to be significantly lower. This does have a lot to do with supply and demand and I don't mean the general public's demand for low mortgage rates. I am referring to Wall St's appetite for mortgage backed securities. But … (7 comments)
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