Interest Rate Update!
Interest Rate Update! The 30-Year fixed rate mortgage rate has increased to 3.63% and just posted its biggest 1-Week increase in 51 weeks!
Mortgage rates have climbed steadily now since November 2012 and have increased from 3.25% to 3.63% during this period, which is almost half a %.
Mortgage rates have now started 2013 worse than any year since 1996.
Many are predicting that mortgage rates are on their way over 4% soon! Remember, it just takes a 1% increase in rates for a buyer to lose 10% in purchasing power/affordability!