Getting the lowest rate when mortgage rates are rising

Source: Kathy Orton, Washington Post

Mortgage rates have escalated recently. The 30-year fixed-rate average, the most popular mortgage product on the market, is nearing 5 percent, according to the latest Freddie Mac data. The last time the 30-year fixed was that high was 2011. Indications are that they will continue to move higher, leaving many homeowners and buyers wondering what rising rates mean for them.

The Washington Post consulted an expert in the housing field for practical advice for anyone considering buying a home or refinancing a mortgage.

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