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12 Jul 10 Mortgage Rates Could Rise

As the benchmark mortgage rates were pressured higher by a modest rally in stocks,  consumer borrowing costs held their ground and went into the weekend only a few basis points more expensive versus the previous Friday.  As a result we are seeing the best  30-year fixed conventional mortgage rates in a range between  4.375 and 4.625% . Borrowers must qualify, meeting the lender guidelines for these low rates.  Mortgage rate increases were only obvious via an uptick in “discount points” charged by lenders.

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