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What's Ahead For Mortgage Rates This Week : December 28, 2009
Mortgage markets made a 4-day losing streak last week on thin holiday volume and overall economic optimism. It was awful news for rate shoppers because mortgage rates were higher every day last week.
The holiday-shortened week marked the third out of 4 during which rates worsened and last week's action happened to be especially harsh. Monday's action was the worst for rates since July, for example.  Tuesday's was only slightly less worse.
Today, conforming, 30-year fixed mortgage rates have reached at a 15-week high -- well off the lows set in early-December.
Normally, when mortgage markets worsen this badly, this quickly, it's because of strong economic data, or growing inflationary expectations.  Last week saw neither.
Existing Home Sales showed strength, but was offset by New Home Sales 3rd Quarter GDP showed the economy growing at a slower-than-expected pace Inflationary data wasn't as high as was expected Furthermore,.......
Read the COMPLETE BLOG POST HERE:
What's Ahead For Mortgage Rates This Week : December 28, 2009
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, ... more

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