Bye Bye To Record Low Interest Rates? YIKES! What Ta Heck Happened?

By
Real Estate Agent with ProStead Realty Charlotte, NC CRS SRES mitch@prostead.com NC License #115457

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!

 

 

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  1. Matt Kombrink 08/16/2013 12:54 AM
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Rainmaker
1,778,316
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

Pretty shocking to see this jump but the rates are very good for those who need to get off the fence.  :)

Enjoyed the post Mitch.

Jul 15, 2013 09:11 AM #1
Rainmaker
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George Kando, New England Realty Group
New England Realty Group - Scarborough, ME
Southern Maine's Real Estate Team of Choice

I've been reading many posts on interests rates that feel the rise is unjustified and unsustainable. Good it be that greed is creeping back into the market . They are seeing what they can get away with before they slow everything down.

Jul 15, 2013 10:49 AM #2
Rainmaker
527,964
Lisa Friedman
Great American Dream Realty - Essex, VT
30 Years of Real Estate Experience!

That is some graph. It really makes the change in rates look very dramatic!

Jul 16, 2013 01:56 PM #3
Rainmaker
455,298
Mitch Muller - Charlotte NC Real Estate
ProStead Realty Charlotte, NC CRS SRES mitch@prostead.com - Charlotte, NC
Certified Residential Specialist

Tom - Yes it is

George - You may be onto something

Lisa - They way it's displayed it does. Definitely caught my attention. BTW, I still haven't bought a new camera yet. Decisions, decisions..

Jul 17, 2013 06:42 AM #4
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Mitch, what a fun take on a serious change in our real estate realm. I'm a big believer in the pendulum theory. Never-ending, just back and forth.

Jul 27, 2013 05:57 AM #5
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Rainmaker
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Mitch Muller - Charlotte NC Real Estate

Certified Residential Specialist
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