Several of our Lenders announced increases in the 5 Year Fixed term last week.
Increases have taken the 5 year from 2.89% to as high as 3.14%
Reasons given ranged from cost of funds to simply "we are too busy!"
Most of the Lenders that I like to use are still hungry and competing for as much market share as they can grab.
So, the good news is I have several Lenders at 2.84%-2.89% 5 year terms. at 3.69% for 10 year term.
However, things change quickly, so get Pre Approved and take advantage of my 120 day rate hold!
Its never been more important to have a Mortgage Broker relationship!
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