The interest rates have been climbing up over the last couple of weeks. The 30 year fixed rate has gone from 5.875% to about 6.50%. If you still want to lock in at 5.875% fixed for 30 years you can ask the seller to pay about two points to buydown the interest rate. In this market many sellers are willing to make concessions to sell their home.
The first time buyers Az Bond Program is still at 5.875% fixed for 30 years without paying any points to buy it down. If you are a first time buyer now is the time to put in your offer and lock in this low rate.
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