Are Mortgage Rates At 7.00% Here To Stay?

Services for Real Estate Pros

Bad news for home borrowers and the real estate industry. Mortgage rates have gone up significantly this summer.

On Friday June 15, a home buyer was quoted between 6.75% and 7.00% with 0 points for a 30 year fixed conforming mortgage depending on the broker or lender he or she was talking to. A jumbo 30 year fixed mortgage was between 7.00% and 7.25% with 0 points. Adjustable rate mortgages were pretty much in the same range.

So what does this mean? Read More

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