“The average rate for the 30-year fixed-rate mortgage rose to 4.51% in the week ending July 11 – reaching the highest rate since July 2011,Freddie Mac said today in its weekly report. A year ago, the 30-year rate averaged 3.56%. This is only the beginning. It is not the time to have a floating rate mortgage. If you haven’t locked in your mortgage rate with a long-term fixed rate mortgage, do so now.”
http://www.economicpolicyjournal.com/2013/07/mortgage-rates-at-two-year-high.html
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