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As Treasury yields go, so go mortgage rates

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Rates are heading back up, if you haven’t locked in a rate in the 4’s you are about to miss the boat. 

NEW YORK (CNNMoney) — Treasury yields have been climbing higher since fall 2010, as the economy begins to show signs of improvement. As a result, mortgage rates have been moving higher as well.

The national average interest for a 30-year, fixed-rate mortgage was 5.05% in the week ended Feb. 11 — marking the first time since May 2010 that the popular consumer borrowing rate topped the 5% barrier, according to Freddie Mac’s Primary Mortgage Market Survey. The data factors in an average of 0.8 points in fees that the average borrower paid to lower his or her rate.

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Chad VonHoven has written 12 articles on Real Estate Financial – Get a fast qoute

Chad VonHoven has been involved in commercial and residential mortgage lending for greater than 10 years. He is a graduate of Georgia Tech and an accomplished Airline Transport Pilot.

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