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Friday, May 31, 2013

Mortgage Rates Climb to Highest Level in Year

The headline sounds more scary than the reality.  Yes...30-year fixed rate mortgages are up to their highest levels in the past year.  Which means that those rates are now averaging 3.81%.  Considering that my first mortgage was 14% (don't ask me when that was!), rates are still looking pretty darned good and are still just above their historic lows.

But the other reality is that these near record low rates can't last forever.  And with prices starting to creep up a bit in Tucson, potential buyers who have been sitting on the sidelines may want to consider starting their search for their next Tucson home.

Mortgage Rates Climb to Highest Level in Year

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