As the Dow hit 10,000 yesterday the chance of getting a below 5% fixed rate mortgage fizzled for new applicants however those in the closing process who were locked are secure. Cash flowed into stocks and out of bonds and mortgage rates increased.
If you are shopping for a mortgage it is important you return paperwork quickly to your lender or your offer may not be available.
Short term rates are still below 5% as are ARM rates. The 30 year fixed is still at historic lows.
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