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Loan Modification

: Mortgage Lender Implode-o-Meter

Current Mortgage Rates Spiking, Panic Sets in, 30-yr fixed FHA Rates Rise too

By Implode-Explode Heavy Industries

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``Mortgage-backed securities, which drive current mortgage rates in the opposite direction, are down today... As a result, lenders have adjusted most of their rates for the worse. The Fed?s mortgage-backed securities purchasing program ended 2 days ago and it?s possible fears of sky-rocketing rates were warranted. While it?s very possible the big drop in MBS prices and sharp rise in mortgage rates tapers off, it?s surely unsettling for everyone.

Full post as published by Mortgage Lender Implode-o-Meter on April 02, 2010 (boomark / email).

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