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by Trevor Sines

Mortgage rates moved lower today, somewhat significantly, depending on the lender.  In many cases, quotes are an eighth of a point lower compared to Tuesday morning.  Some lenders made the move yesterday.  For others, today did the trick.  In both cases, the “effective rate” (a hypothetical rate that accounts for lender-imposed closing costs) fell at its best pace in weeks.  

Today’s quotes are the best since December 12th on average.  4.25% is now the most prevalent conventional 30yr fixed quote on top tier scenarios, although 4.375% remains fairly common.  

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