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Friday, February 24, 2012

Interest Rates Trend Up from Historic Lows: Market and Economy Inprovements Cited

30-year fixed rate mortgages were up this week from their at-or-near record lows of the past three weeks to an average of 3.95%.  That is according to the weekly survey of the primary mortgage market by Freddie Mac.  The increase was attributed to improvements in the economy and in the housing market.  The National Association of Realtors reported that existing home sales were the strongest since May 2010 and the Mortgage Bankers Association reported that the percentage of loans that were seriously delinquent dropped to their lowest quarterly level since the start of 2009.

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