Rates just went up an enormous amount... my lender says that he has never seen them jump this high in one day. This really sucks for all of the people out there that are first time home buyers that have been dragging their feet. My suggestion is get a property in mind and if rates drop down to anywhere near 5% then they should jump on it. I have been seeing this coming for some time now. Hopefully rates will fall back down... I will keep you guys informed if the do so.
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