01 Feb
Posted by utahcribs as Economy Update., Real Estate Deals, Utah News
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…
One Response
Mortgage Interest Rates climb.. Interest Rates rose today.. « UtahCribs Weblog
February 4th, 2010 at 3:17 pm
1[...] there.. So all of you who are waiting for a better time to buy, I think this proves my point.. [...]Interest rates rise as investors pull out of bondsksl.com – Interest rates rise as investors pull out of bonds. So I hate to be the one to say I [...]
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