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It's been a good few weeks for mortgage rates. While Wall Street waits for definitive data on the economy, traders have tended to take safe positions in the mortgage-backed securities market. Traders appear to believe the Federal Reserve's assessment about the economy picking up, but, nonetheless, they're making careful hedges with their bets. Furthermore, inflation appears contained (for now) and the U.S. dollar is recovering from its late-Summer beatdown. It's all helped push mortgage rates to their lowest levels since around the time the Phillies first took first place.
