It's Getting Ugly Out There...

Looking to buy? Now's the time. Lock the rate. Rates have been rapidly rising due to the problems of Fannie Mae and Freddie Mac. Rates are at a five year high, and Jumbos are out of control.

Bankrate.com is showing the following rates:

If you haven't been following the Fannie and Freddie debacle, The New York Times has an excellent article detailing the mess: Woes Afflicting Mortgage Giants Raise Loan Rates