An improving economy and the end of government investment in the mortgage market contributed to a bump in interest rates this past week, rising to their highest point in the past eight months. Average 30-year fixed rate was 5.21, up from 5.08 the prior week.
Remember, the Federal Homebuyer Tax Credit program is ending an you must be in contract by 4/30/10 (and close escrow by 6/30/10) in order to take advantage of this program.
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