So you think 30 year fixed mortgage rates over 5% is a bad thing? You think an interest rate above 4.99% has some sort of mystical, psychological barrier to entry?

How does 10% sound? What about 18.5%?

So quit your cryin’… we all knew 30 year mortgage rates in the 4% ballpark couldn’t last forever. If you’re a prospective home owner or real estate investor looking to snake a few bargains from the short sale/REO/foreclosure market, 5% is still, based on historical interest rates, a very good deal.

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Mortgage News Daily