If you have been shopping for a home in Jacksonville and are working with a mortgage broker or bank for a home mortgage, rates are bouncing all over the place.
Rates have moved a little and sometimes a lot. Sometimes up as much as a half point a day. WSJ reported on the rising rates here.
How does this affect you? If you are purchasing a home and you intend to have a $200,000 mortgage, and your rate went from 5.5% to 6.125% , your payment just went up $80 per month.
Will this trend continue? Well, check out The Daily Mortgage Reports. Dan has an article that talks about summer trends. Just about every summer, rates go up. (Kind of like gas going up just in time for summer travel).
Is it Time to Buy a Home in Jacksonville?
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