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Mortgage Rates are Rising

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Mortgage interest rates jumped about .25% within the last week or so on signs of positive economic news.

The market is showing signs of heating up slightly, especially in Ventura. There are presently 213 listings on the market, down almost 50% from a high of 400 in January 2011. With relaxed lending standards, more home buyers and investors are clashing over properties in frequent multiple offer situations.

The bottoming of the market may prove to have occurred in late 2011.