Financing in Moneta>Question Details

Alesia Amos, Real Estate Pro in Moneta, VA

Do you think interest rates will jump up next year?

Asked by Alesia Amos, Moneta, VA Thu Nov 4, 2010

The current economy has many buyers worried and mortgage rates going up may hurt the market again.

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Absolutely... as our economy continues to improve, it is highly likely that rates will rise. However, this should be a great opportunity to buy while rates are still low and before appreciation starts to rise...
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0 votes Thank Flag Link Mon Jan 27, 2014
It is hard to say. I think home prices will continue to fall next year in most places and if that is true, interest rates will remain relatively low by sheer necessity.
0 votes Thank Flag Link Thu Nov 4, 2010
Well, I checked today's rate from Home Savings of America, Tuan Tran 703-533-8866, it actually went down. Rates are still going up and down for 0.125.
They usually predict for next day or sometimes next week but I don't think anyone can predict for next year. It's like saying something for next year's stock market.
0 votes Thank Flag Link Thu Nov 4, 2010
Who knows what will happen, but I don't think they will "jump" up if they do start to rise.
0 votes Thank Flag Link Thu Nov 4, 2010
With the announcement of more bond buying (600 Billion) by the Fed, that will keep interest rates low for a while. When the economy starts to really improve, interest rates will glide upwards.

Regards,
Andy
0 votes Thank Flag Link Thu Nov 4, 2010
Yes, today was the first day rates went up in 5 months,
0 votes Thank Flag Link Thu Nov 4, 2010
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