Cautious Trickle Brings Lowest Rates in 9 Months

Mortgage rates moved lower again this week, but not by very much. Even so, it was enough to hit the best levels since November 2016 for many lenders. To put things in perspective, it's entirely possible that any given borrower would see the exact same loan quote every day this week. That's how narrow the range has been. The "lowest in 9 months" designation is based on the average of all lenders. This week's biggest story was the nuclear brinksmanship headlines with North Korea. This affected multiple markets in the middle of the week, generally pulling stocks and rates lower. Friday's inflation data suggested the Fed has a lot to consider at its upcoming meeting (inflation remains lower than they'd like). Although the Fed Funds Rate doesn't directly affect mortgage rates, both tend to take

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