Fed Speaks...Rates Bump Up Mortgage rates went up this afternoon - TopicsExpress

Fed Speaks...Rates Bump Up Mortgage rates went up this afternoon after Fed Chairman Ben Bernanke announced that the Fed could begin scaling back its stimulus later this year. Are we on a long term upward trend in rates? Seems that way...what do you think? Rates are now up about 3/4% on 30 year fixed rate loans over the past month or two. Ouch! But the good news? We still have amazingly low rates, and an economy that seems to be continuing its gradual improvement. Best of both worlds...have a job and get a low rate mortgage. Sweet!

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