Mortgage rates continued to improve yesterday, making it the 11th straight day where rates have held steady of moved lower. Data came in as expected yesterday with Durable Goods performing to forecast and lackluster long term stats for New Home Sales creating no reason for the bond market to move. However, dear over a possible government shut down drew investors back to the bond market later in the day. In other mortgage news mortgage applications rose last week, refinancing activity index rose nearly 18 percent, and the FHFA continues their new campaign to educate HARP eligible homeowners about refinancing opportunities.
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