The Mortgage rates hit a new 2-year high, which is actually a good thing.
The Mortgage rates for a 30-year, fixed-rate loan reached 4.51% this week, which marks the highest level it has been since July 2011. 15-year loans are now at 3.53%. If you are in the market for a new home this should not worry you. According to Forbes this rate hike is actually a good thing as it shows the economy is recovering. The rate hike is also quite small and the Mortgage rates are still at a record low overall.
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