Investor Central

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Monday, June 10, 2013

Mortgage Rates are Highest in a Year

If you are not a cash investor, be aware of the current market's spiking mortgage rates!
From the article:
Mortgage rates have hit their highest level in more than a year, making homes more expensive for buyers who finance their purchases. The rate on a 30-year fixed-rate mortgage jumped 0.22 percentage point to 3.81% this week, according to Freddie Mac. That's up 15% from the record low of 3.31% set the week of November 21, 2012 and the highest rate since it hit 3.83% the week of May 10, 2012. The 30-year rate was as low as 3.35% in early May.
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