We and the rest of the financial media have relentlessly reported that mortgage rates have been at historic lows. But we have also urged clients to take advantage of these rates as they would not last forever. The Los Angeles Times now reports that rates have inched up for the fifth consecutive week. On the one hand, rates are still historically low, but as you can see, those days may well be coming to an end. If you have been holding off on buying thinking these rate would continue to hug the carpet, the action of interest rates over the last month indicates things are changing.
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