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Mortgage rates fell fastest in months as 30-year fixed dips

The average top-tier 30-year fixed scenario dropped 0.09%, after starting the day with a 0.01% increase.

Reported · Written up by our desk · Mortgages

Mortgage News Daily reports that mortgage rates moved lower today at their fastest pace in 3 months, with the average top-tier 30-year fixed scenario ultimately falling 0.09%.

The outlet said trading had some early reversals, noting the day began with a 0.01% increase versus yesterday’s latest levels, and that its rate index can shift more than once per day as lenders make intraday updates.

Mortgage News Daily added that intraday declines were broad, with nearly every lender lowering rates at some point during the day, and some more than once.

For drivers, the outlet said there was no single standout event, though mid-day headlines about the Iran war provided some benefit, and its review pointed to investors deciding bond yields were high enough to support additional asset allocation.

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