Interest rate predictions

Asked by Ultan Woods, Belfast, TN Wed Oct 15, 2008

I'm currently thinking of investing in an Orlando villa and see that fixed term mortage rates are ~6-6.5%

I know that back home in the UK, interest rates are predicted to drop over the next year or so in response to the economic down turn.

Is there websites out there or does anyone know what interest rates are likely to be in the next 12-18months?

Thanks

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3
Marcia V Hol…, , Beaufort, NC
Wed Oct 15, 2008
Beaufort, NC. Our interest rates are the same 6 - 6.5 fixed 30 yr.
15 yr fixed @ 5.875 + 1
We are expecting the rates to drop again and stay steady for about 6 months.
Buyers are investing in properties now.
0 votes
NonRealtor, , 23456
Wed Oct 15, 2008
Wait another year to buy, save another 20% on the price. And interest rates will probably be lower. Good Luck
0 votes
Jeffrey Nyla…, , Austin, TX
Wed Oct 15, 2008
Great Question Ultan!

As a buyer, you re in the driver's seat at this time in history. If you have been watching the news, the leaders in the US are currently meeting with overseas officials to determine strategies to get the world market beefed-upped.

The very best way to get info with rates is to speak with a US Bank who is "in the know".

Now is the very best time to lock into an interest rate and purchase. We are at the rock bottom with prices/rates and this is the best time to invest!!! Only GOD and the Fed's know what rates are going to do tomorrow. I would not wait until you see "the bottom" in the rear view mirror. By then, it is too late for the very best deals.

Best wishes!

Jeffrey Nyland
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