Mortgage Rates Creep Up

5:27 PM, Jun 18, 2013   |    comments
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WASHINGTON, DC (WUSA) -- Home prices are on the rise and so are mortgage rates.

The historically low rate inched up more than half a percentage point in the last six weeks.

So, if you're in the market to buy, experts say you may not want to wait any longer.

Here's why, lock in a 3.5 percent fixed mortgage rate on a $250,000 home, and you pay about $898 a month.

But, that same mortgage could cost you $954 bucks at 4 percent.

And that can add up to $56 more a month or $672 a year.

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