What Happens to Your buying Power When the Interest Rates Rise?
Posted by Sara Leicht - SaraSellsSarasota.com on
Where are the interest rates going to do in the future?
A look into the crystal ball.........
Let me give you some insights as to what the real estate field is hearing.
Currently interest rates are hovering in the low 5% range.
In a recent article written by Michael Pollick of the Sarasota Herald-Tribune dated March 30, 2010, Michael wrote,
” Signs are pointing to the end of the era of 5 percent mortgages, one that already has lasted longer than most thought it would. It is clear that the combination play used by the government and Federal Reserve to stimulate the residential real estate market in 2009 and 2010 -- artificially cheap mortgage rates coupled with lucrative federal tax credits and easily available Federal Housing Administration loans --…
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