When Mortgage Rate Rise

7382239368_ba418d5b73_qMortgage rates have remained historically low for a while now; the average mortgage rate last week was only 4.28 percent. But consumers should expect to see a rise in rates in the coming year. Economists predict that by the middle of 2015, mortgage rates will average about 5 percent. While this may not seem like a significant difference, it can greatly increase the monthly cost for a home, particularly in parts of the country where housing prices are very high. If you plan to buy or sell a house in the near future, this article may be of particular interest to you.

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