Interest Rates will rise in 2010. Tax incentives will end.

Federal Recession Aid — Get It While You Can – WSJ.com.

Ready this article in the link above. I think this is spot on. The article is basically explaining how the tax incentives will end in March. When they do end, rates will most likely rise. The million dollar question is, “How Much???” The article goes a little further explaining how much lower the current interest rate is due to the govt. backed incentives.. What does that mean? Well it means when the Govt. incentives run out, interest rates will have to catch back up to where they should be.. Which right now they are saying is about three quarters of a percent.

In a nut shell for all you fence sitters. This article is telling you that the fed is planning on raising interest rates by a full percentage point by the summer.. What does that do to your mortgage? Do the math on $250,000 mortgage, it means an additional $150 a month.. Enjoy.. Everyone in the Utah Realestate market, should take advantage of all these govt. incentives and act while our lovely utah realestate market is at one of the lowest points it has ever seen. Now forget all that, buy while interest rates are lower………

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