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Interest Rates on the Way Up

Posted By Wally Reule @ Jun 24th 2013 7:48pm In: Sedona Real Estate Market News

Interest Rates are on the rise! According to Freddie Mac, the average rate on a 30 year fixed rate mortgage has gone up from 3.3% in early May to 3.91% now. Historically speaking, these are still great rates, but if you're considering a financed real estate purchase in Sedona, don't wait for interest rates to come back down. It's not likely to happen. Most experts agree that they will continue to climb back to the 5.5% - 6% range in the next couple of years. And with the prices of Sedona homes going up, the longer you wait, the more it will cost.

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