Do Not Panic Over January Interest Rate Increase

Mark I do not know what interest rates will continue to do, but I do know what they have done over the last two weeks, and that is they have increased by about .75%.  I have seen this before, and they have come down again.  Will it do that again, or continue to go up, only time will let us know for sure.

Mark,

I am still amazed how many people still respond to media hype.  Wishing you a wonderful rest of the week.  A

Mark Don McInnes, Sandpoint-Idaho I bought my first house back in 1984 and assumed a loan at 12.75% with a second a bit higher than that.  When I hear people say rates are getting high now I laugh. 

Hi Mark- that's the problem with today's media...everything has to be hyped!  

Great Post Mark let's put things in perspective, my parents bought their home in the mid to late 1970's need I say more?:)Endre

Hello Mark - perspective always seems to accompany any discussion.  Now, is that companion friend or foe?  The conversation continues. . .   

Good morning, Mark... you're right... no reason to panic... we knew those low, low rates couldn't last forever and at the same time for those of use who remember the 70's, 80's, 90's, etc. current rates are very low despite the recent increases.

I was first licensed in November of 1981.  Interest rates hit their historic highest point back then - 18 1/2%.  Today's rates, even with recent increases are still very reasonable.

CONGRATULATIONS Mark, on having this blog FEATURED in the Old Farts Club group!