If you were waiting for the perfect moment when housing prices and mortgage rates were at their absolute lowest, you may have missed your chance. Rates have begun to increase from their lows close to 4 percent. Freddie Mac noted that average rates on 15- and 30-year fixed loans increased sharply from two weeks ago. It was the fourth straight weekly rise. Fixed rates had been the lowest in decades.
So if you are looking to strike while the iron is hot, you should know that the iron has cooled a bit. Time to get busy buying your dream home.
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