If you’re looking for a new 30-year mortgage, last week’s events from the financial markets carry a very simple message: Get ’em cheap while you still can.Rates on conforming 30-year loans jumped dramatically in just a few days, ending the week at an average of 5.27% according to Bankrate.com. That’s still OK by historic standards, but it’s a jump from the levels seen just a few weeks ago, when you could get loans at 4.75% or below.The underlying cause isn’t hard to find. Rising government debts, and burgeoning hopes of an economic recovery, are pushing up long-term interest rates on government debt. What does this mean for you?
By Brett Arends, June 1, 2009, WSJ

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