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Mortgage rates dropped last week, but, this week, there appears to be more reasons for rates to rise than fall. Plan accordingly.

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For just the second time in 2011, conforming mortgage rates fell on a week-to-week basis.

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According to Freddie Mac, mortgage rates made their largest 1-week jump in more than a year last week, tacking on 0.24 percent and bringing the average national 30-year fixed mortgage rate up to 5.05%. In some markets, rates are even higher.

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Mortgage rates rose for the 4th time in 5 weeks last week, extending a losing streak which dates back 4 months. This week, they should do the same.

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Mortgage markets improved this week as positive economic data was overshadowed by geopolitical strife. A flight-to-quality drove buy-side activity in mortgage bond markets, which, in turn, helped conforming rates fall.

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Mortgage markets worsened last week in a holiday-shortened trading week. For the second straight week, conforming and FHA mortgage rates increased.

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Mortgage markets worsened last week on a turn-around in sentiment across the Eurozone. The sort of “safe haven” buying that had buoyed mortgage bonds since the New Year dissipated, and mortgage rates resumed climbing.

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Mortgage markets gained last week. Demand for mortgage-backed bonds outweighed supply and conforming and FHA mortgage rates edged lower.

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Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. This week, it’s back to normal.

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Mortgage markets worsened again last week as the holiday-shortened sessions did little to buck recent momentum.

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