Bye Bye To Record Low Interest Rates? YIKES! What Ta Heck Happened?
Yes, it's true mortgage rates are rising. It's still a good time to get in the market as rates are expected to rise another percent in the coming year. This is an attempt to keep rising home values in check.
Bye Bye To Record Low Interest Rates? YIKES! What Ta Heck Happened!
When I first saw this chart in my daily dose of The Motley Fool, I thought my eyes were deceiving me. After removing and cleaning my reading glasses thoroughly and looking again, I had to take me a big sip of my cold drink. And a BIG sip if you know what I mean!
My first thought.. WOW! Is this is it? Is this the end of the record low interest rates as we have known them? Are they going to keep going up? Will this slam the breaks on the real estate housing industry as we currently know it? Was this just another “bubble” after all?
Some people will freak out I’m sure. When you think about it though, if I recall correctly, when the economy and real estate industry was booming in the early to mid 2000’s, weren’t the rates around 6%? I don’t recall anybody complaining about those rates.
In fact, I recall many people saying they wouldn’t stay like this long so you better get em while the gettin’s good cause they ain’t staying like this forever! BTW, that’s southern for “these are excellent rates!”
And they still are!
Comments(0)