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After a week and a half of extremely low rates which touched on 4.625% for a 30 year fixed rate loan, rates seem to be coming off the bottom. Though there is still general weakness in the economy, the bond prices seem to have gone as low as the market will allow. Though, it is likely that rates will stay low through the rest of the buying season, it remains to be seen if they will still this low. If anyone is in the process of refinancing, I would suggest locking in your interest rates at this time.