Nov 7, 2011 9:58AM Everyone received an extra hour this weekend - and don't forget that Friday the bond market is closed in the U.S. So if any company is generating a rate sheet and taking locks on the 11th, don't expect sharp pricing - the usual procedure is to take Thursday's close, see what happened in Europe, and then back things off .250 or more. Sometimes I joke about a board game titled, "Mortgage Banker Scrabble," where one draws three words out of a bin and creates a company name from them. Words like union... Nov 7, 2011 4:05PM Once again, Mortgage Rates have improved very slightly. This wasn't necessarily the case this morning, but market movements during the day resulted in several lenders offering small improvements. Most of those improvements will be seen in terms of slightly lower closing costs as Best-Execution remains centered on 4.0%. Today's Rates: BESTEXECUTION 30YR FIXED - Centered on 4.0% FHA/VA - 3.75, fewer 3.875% 15 YEAR FIXED - 3.375%-3.5% 5 YEAR ARMS - low 3% range, huge variations from lender to lender...
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