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Monday Musings...interest rates?

By
Real Estate Agent with Jack White Real Estate

About three weeks ago we saw interest rates hit as low as 5.3.  As of Friday morning they were at 6.125.  That is quite a change in just a few weeks.  When the rates hit 5.3 I asked some lenders what they felt the rates would do and although they wished they could really figure it out, they thought they would not drop much more and would start increasing.  Here we are today with rates almost 1 percentage higher, so their 'gut' feelings were correct. I am interested to find out what this week holds as far as interest rates. 

Any predictions on the short-term and long-term interest rates?  If so, leave your comments here!  I would love to see what others are thinking.

Jesse Clifton
Jesse Clifton & Associates - Fairbanks, AK
Well, that's a hard prediction to make.  The FED has been pouring money into the market through short term auctions in an effort to motivate lenders to initiate more lender to lender loans but they are not budging and now the FED is actually pulling money back out of the market.  Given the challenges of the credit markets and Bernake's unwillingness (or inability) to control the credit markets I'm willing to bet the FED will continue to cut rates... whether that will translate to lower mortgage rates will depend on a number of things; investor confidence in MBS's, the implementation of the changes at Fannie/Freddie/Ginnie and whether the big players in the financial market can survive the onslaught of foreclosures.  I think there's an answer in there somewhere but in case I bored you to tears... I think they will hover around the 6% mark.
Feb 18, 2008 11:42 AM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

Hello Dodi, I found your blog via Jesse and Kathy Clifton.  I just wanted to stop and say "Welcome to ActiveRain!"

I hope you enjoy it as much as I have.  I look forward to getting to know you! 

Feb 20, 2008 08:10 PM
Susie Blackmon
Ocala, FL
Ocala, Horses, Western Wear, Horse Farms, Marketing

Hi Dodi, and Welcome!  Here's a great guy to watch regarding interest rates right here on Active Rain:

Ed Nailor 

All the best!


 

Feb 20, 2008 08:42 PM
Christina Williams. REALTOR® TN property search & local insights
First Realty Company - Crossville, TN
Welcome to AR.
Feb 20, 2008 10:33 PM
Kelsie Compton
Triangle Choice Realty, Inc. - Cary, NC
Cary NC Real Estate

Dody - Welcome to Active Rain -  Jesse wrote a wonderful introduction!

Best Wishes,

Kelsie
www.TriangleChoiceRealty.com

Feb 21, 2008 10:06 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:03 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:04 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:05 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:06 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:07 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Hi Dody and welcome to AR.  Looks like you got the blogging thing down!  Good luck
Feb 21, 2008 07:07 PM