May 2007 Weddings
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Interest rates have SHOT back up on mortgages. I had a BoA mortgage hit my desk this morning and the rate is 5.875% (as compared to my 4.375% rate from January and, more recently, a 4.5% rate two weeks ago).
So, now I have to ask, is this a good sign or a bad sign? I'm hoping good but I'm cautiously optimistic....
Re: Wow - Interest Rates
I read last week that they were creeping up. I think it's a good sign for sure, although there will be less re-fi's if rates continue to go up. Either way, rates are still historically low.
we locked in at 5.125% about three weeks ago, I'm glad we did, we still have the option to purchase a point, we're set to close on the 1st of July. My neighbor who is a banker told me the jump caght a lot of people off guard and they've had some people lose their loans over it, I think he said his bank was still offering 5.75% but that was with perfect credit.