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Being aware of what’s going with the real estate market makes me feel that I’m really updated of the trends and the twist and turns happening all around the real estate business.
Earlier, when I was browsing the net, my attention was caught by the news about the increase in the mortgage rates in a long-term fixed loan. The news talks about the rate increase in the mortgage fixed loans and the like.
In the first week of February, a sudden increase in the mortgage rates rocketed up 5 percent up for a 30-year long term fixed loan. According to Freddie Mac, a 30-year fixed loan has a mortgage rate bouncing off to 5.01 percent from last week’s average mortgage rate of 4.98 percent.
In fact, the mortgage increase fell only in the long-term mortgage category which is in 30-year fixed loan.
Other lower mortgage year’s rates also increase from its previous mortgage rates.
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Via Realtor.org (Daily Real Estate News- Mortgage Rates Top 5%)