Interest rates Update.. Predictions for interest rates in 2010
So we have been getting a lot of interest about what is happening with interest Rates.. Check out the link above for the lates news..
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Interest rates rise as investors pull out of bonds
ksl.com – Interest rates rise as investors pull out of bonds.
So I hate to be the one to say I told you so. But…. I told you so.. Will interest rates rise in 2010?
The answer is undoubtably yes, they are on the rise. It is not a questions now of if they will rise, it is how much are they going to continue to rise..
The fact that all of you consumers need to think about is the math.. Lets do a simple math equation. If interest rates go up 1% which many professionals agree they will, for every $100,000 you borrow, your payment will go up $100 per month.
Do I think this is going to effect your average buyer? Yes, that averag priced home in Salt Lake City UTAH is $220,000. Which means if interest rates go up 1% in the coming months this home will cost the average person $220 more than it does right now.. So duh!! Do somthing about it…
