Interest rates spiked on the heels of news that a COVID-19 vaccine may be available soon.

For the week ending November 12, the average rate for a 30-year fixed-rate mortgage was 2.84% with 0.7 discount points paid, according to Freddie Mac’s weekly Primary Mortgage Market Survey.

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Your Guide to Financial Independence

Rick Epple, CFP(r), CeFT (r)