Strong Start For Mortgage Rates This Week

Mortgage rates were much more active this week compared to last. The first 3 days all saw solid gains. By Wednesday afternoon, rates were roughly in line with their best levels since late November! The good times didn't roll. Thursday and Friday both saw rates move back toward the center of the recent range. On the plus side, the first 3 days of improvement more than offset the 2 days of weakness, leaving rates slightly better off than last Friday. The average lender is quoting 4.125-4.25% on top tier conventional 30yr fixed scenarios. Next week brings an important event in the form of F ed Chair Yellen's congressional testimony on Tuesday. Rates have generally been consolidating, and it's only a matter of time before they break out of that pattern. Yellen's testimony is one of the events that

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