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The Big Climb

Mortgage rates are really starting to climb.

Granted, in the big picture of things, they’re still at historically low levels at 4.5 percent for a 30-year mortgage. But the numbers are all pointing upward these days — and few expect them to fall back to their previously lower levels.

One Response to The Big Climb

  • I got the following rates from BAC earlier this year, actually all the way back in March, 2013:

    Rental property (in Metropolitan Condos) is 3.125% and primary residence (Chestnut Hills) is 2.875%

    Both loans are a 10 year fixed product with zero points– closing costs being somewhat standard, seem not relevant.

    Are these good rates?

    The 2.875% refi closed recently (the other has not).

    It seemed strange that I received a check for $1293.32 from the title company.

    They called it “Loan proceeds from your transaction”.

    What does the bank gain from taking so long? Are they hoping that I’ll ‘drop’ out?