Mortgage rates¬†were¬†lower¬†for the 7th day in a row today, further extending their push into the lowest levels of the month. ¬†At first, that positive movement was driven by relief that the Fed's rate hike outlook didn't accelerate as much as investors expected. ¬†That motivation ran its course by the end of last week.
Since then, political uncertainty has been a hot button, with widespread doubt surrounding the new administration's ability to pass the new health care bill. ¬†There have been several other contributing factors driving political uncertainty, but Thursday night's health care vote is a focal point. ¬†Most media reports suggest passage is unlikely, but that a modified version of the bill might be able to clear the House. ¬†Even though the Senate would still need to vote, if any sort of healthcare bill passes the house tomorrow night, mortgage rates could rise quickly....(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.[img]http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=720074