You may not be aware of it, but last week interest rates hit an all time low. Homeowners on the lookout were ready to refinance and lock in rates in the crazy low three percent range. However, something bizarre has happened in the market place and rates shot up suddenly over the last 48 hours leaving many of us scratching our heads. Today Joe tries to clear up the recent craziness in the market and simplify the complicated reason behind the rapid rate increase.

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