INTEREST RATES ARE ON THE RISE
"Mortgage rates rose for the sixth week in a row, according to Bankrate’s weekly survey of lenders. The 30-year fixed-rate mortgage climbed 7 basis points to 4.51 percent. That’s the highest point for the 30-year fixed since April 2, 2014, when the average rate was 4.54 percent."
BCH's Take: Potential home buyers should be cognizant of rising interest rates as even small increases in the prime rate can lead to hundreds of dollars in extra expense on their monthly mortgage payment.
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