Mortgage rates moved lower today by the widest margin in over three weeks. The faster-paced movement is courtesy of political tensions in Italy surrounding the country's elections over the past two days. Markets had expected a Bersani victory, which would be as close to a status quo as possible and seen as best for European stability. Instead, Berlusconi may have won control of at least half of the Italian parliament. Markets perceive this as a negative development for EU stability, and such negative developments were among the key contributors to all-time low interest rates in 2012.

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