Mortgage Rates Top 5%

Long-term mortgage rates climbed above 5 percent this week. According to Freddie Mac, 30-year fixed loans averaged 5.01 percent compared to 4.98 percent last week.
There is a lot of buzz in the industry that rates are expected to increase and hit the 6% mark in March sometime.  If you are looking to buy a home and keep your rates low, NOW is the time to buy and get yourself locked in before things start going up again.