Financing in Mobile>Question Details

Sam Calderone, Real Estate Pro in Mobile, AL

What do other agents expect interest rates to do in the next 6 months?

Asked by Sam Calderone, Mobile, AL Mon Feb 14, 2011

0 votes Share Flag Financing in Mobile

Help the community by answering this question:

Answers

1
Interest rates are going to VARY. Long term guess - they will rise. Why? Because they have been at historic low levels for almost a year. As the economy imporves, there will be more demand for loans and more places to invest that give a good return. That generally causes rates to rise. You don't want to see a scenario where rates drop. It means the economy is back in a dive.

The effect of a 1/2% increase in rate is just about the same as a 6% price increase in the home.
in either, case, the payment increases by about $30 per 100K.

Doc
Web Reference: http://TellEllen.com
0 votes Thank Flag Link Tue Feb 15, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer