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If you’re thinking refi – you’d better think fast!

June 11, 2009

Did we chat about this?

Mortgage rates rise to 7-month high – San Jose Mercury News

WASHINGTON — Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said today.

The average rate for a 30-year fixed mortgage was 5.59 percent this week, up from 5.29 percent last week, Freddie Mac said. The last time the average 30-year fixed rate mortgage was higher was the week ended Nov. 26 of last year, when it averaged 5.97 percent.

Now’s the time – If you’ve got an adjustable, 5 year fixed, or anything other than a regular old 30 year fixed, now’s the time to get movin on that refi. Lock it in sooner than later.

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