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Mortgage rates have seen their highest levels since 2012!

Mortgage rates have seen their highest levels since 2012!  May was an especially bad month for rates as we saw the price of the FNMA 3.5 coupon drop from 106.5 to just above 104.  This drop in price moved mortgage rates up almost 3/4 of a percent.  Home appreciation, generally good economic news, and signs that the FED could start tapering its purchases of MBS have driven this rise.

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