Interest Rates Are Low Right Now! - Grants Pass, Oregon
If you've been waiting to buy a home until the interest rates get better, then you'd better get at it soon! Interest Rates Are Low Right Now!
I remember in the mid to late 1980's the 30 year mortgage rates were running around 10 percent, just after the terrible recession of the early 1980's.
The 1990's bounced around from ten percent to start, and with ups and downs in the sevens and eights and ending the decade around 7.5%.
Starting in the 2000's from a high around eight percent, we have watched a steady decline and have bounced through the five and six to seven percent rates.
We have now hit the lowest rates in two decades! Interest Rates Are Low Right Now!
With rates hovering around 5% for a thirty year fixed mortgage, you're crazy if you don't act now! Interest Rates Are Low Right Now!
Looking back at the recession of the 80's, I recall as soon as the recovery started, the rates started jumping. If, as the economists are saying, we have hit the bottom and the recovery is on the way, will our housing rates again shoot to 10%?
No one knows, but I sure wouldn't want to bet against the odds, and that's what I feel will possibly be the outcome if a buyer who is able to buy now puts it off much longer as the Interest Rates Are Low Right Now, but who knows where that breaking point is?
I'm not basing this on any crystal ball, just life experience and the fact that the Fed cannot continue lending money to the big boys as they have been without some kind of return.
Like the unknown authored saying on my wall;
"Upon the plains of hesitation bleach the bones of countless millions, who, on the threshold of victory, sat down to wait, and waiting, they died."
Interest Rates Are Low Right Now!
Comments(4)