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ABBA First Mortgage News

So what’s happening with interest rates?

Mortgage rates took a hit on Wednesday with the MBS losing 72 bps on the day after two previous days of the rate market worsening.  That’s a total of three back to back to back days of lenders trying to keep rates low but having to react to the situation on hand and raising mortgage interest rates, despite wanting to remain busy going into the fall and winter months when the market typically slows down anyway.  ABBA First Mortgage has taken it on the chin but instead of passing the full rate deterioration onto the borrower, has chosen to take the loss with reducing the rates only slightly while maintaining their level of high service and all around excellent loan pricing of choosing to put the borrower first.  Please give us a call and see what we can do for you today at 910-332-0650 with our unadvertised specials for new clients this month.

Thank you in advance.  Rich Biagini – Owner and President – ABBA First Mortgage

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