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Mortgage rates settle in for the summer

“After a big jump to start the year, mortgage rates have settled in for the summer” writes Kathy Orton for washingtonpost.com. Shashank Shekhar, CEO of Arcus Lending, is one who expects rates to hold steady. “Weekly fluctuations aside, mortgage rates are almost at the same level they were three months back which is quite in contrast to the first three months of the year when the rates kept climbing,” Shekhar said. “Competing factors have kept mortgage rates from rising in the recent weeks.Mortgage rates haven’t moved much since April.With the NATO meeting also thrown in the geopolitical mix, expect mortgage rates not to change much this coming week.” [It’s easier to get a mortgage in 2018, according to a new study] Meanwhile, mortgage applications were up last week, according to the latest data from the Mortgage Bankers Association.Bankrate.com, which puts out a weekly mortgage rate trend index, found more than half the experts it surveyed say rates will remain relatively stable in coming week.
 
Source: washingtonpost.com



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