Noticed by Diana Olick of CNBC.ocm, the bounce in 30 year mortgage rates from around 4% to 5.5% eliminates any reason for numerous nomeowners to re-finance, because they already have 5.5% or lower rates.
As noted, this rate increase virtually eliminates the Obama mortgage re-finance plan as a choice.
(Click here if you want to order a FREE copy of my book, The Consumer’s Guide to Defending Foreclosure.)
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