Mortgage rates have been bouncing all over the place this year.  This chart shows the increase and decrease, although in the last week rates have dropped back down in the low 4.2% range for highly qualified buyers.  In other news the banks have started loosening up a bit.  The average credit score of borrowers has dropped from the high 700's we had a year ago down to the lower 700's.  This is a clear sign that the banks are becoming a little more aggressive at getting new loans in the door. 

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Posted by Brad Officer on
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