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Well folks, not too much better news this week with mortgage rates. As mentioned from previous updates, mortgage bonds are still trading below that critical 200 day moving average, and the volatility is higher this week as well. Last Friday’s strong employment data along with increased forecasting of a Fed rate hike, has put a lot of selling pressure on mortgage bonds (selling bonds = more supply = higher rates). Tomorrow we have retail sales numbers coming out and if this is a strong reading, we could see more selling pressure. This week we are seeing rates in the 4.125-4.250% range on 30 year fixed loans and 3.375-3.500% on 15 year fixed rates. Jumbo 30 year rates are in the 4.375% range with varying points.

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