In the last 2 months, the 5 year government bonds have climbed from 0.66% to 1.21%...that is a fairly substantial hike! Government bonds are what fix rate mortgages are the most closely tied to. When bonds go up...fix rates go up! In early November we had 5 year fix rate as low as 2.24%...today most lenders have raised their 5 year fix in the 2.75%-2.85% range. We still have one lender offering 2.59 %, but likely not for very long. Call me if you want to discuss your options.
