Mortgage rates surged in the week ending Feb. 10.  According to Freddie Mac, 30-year fixed mortgage rates averaged 5.05% with an average 0.7 point, up 24 basis points from the previous week. 

This places the no point rate at over 5.20% and pushes the 5% coupon out of the refinancing window.Mortgage rates were last at 5:00% or higher in late April/early May of 2010.

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