I Hope You Locked Your Rate
June 13, 2007
According to Bankrate.com the average 30 year fixed is at 6.36% and last week it was 6.09%! That’s quite an increase. Best pricing on a 30 year fixed that I found yesterday was 6.5%! Just 3 months ago I was able to refinance a client into a 30 year fixed at 5.875%!
Rates will continue to rise if not in the short run, then most likely over the rest of the year they will continue to trend upwards. My advice is as soon as you are ready to go forward with your loan, lock your rate. What a difference a week makes.
More: continued here
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