Conventional thought is that rates will start to rise again as the stock market makes a strong comeback after the recent sell off.
However the jobs statistics and unemployment figures look good so there is a continued fear about inflation. There is also major concern about the subprime loan market as more and more companies face some major problems.
So in answer to the posed question... no one knows! Rates took a dive today after expectations that they might begin moving up again. And who knows what the bond market is doing. It seems to have a life of its own.
My advice to all of you who have loans coming due.. get new fixed financing.. if not for 30 years then try for 5-10 years.
If you are thinking about buying.. it's not likely to get much cheaper.... so now might be a good time to check on rates and decide if the time is right. I'm not seeing any massive declines in prices around the beach and the cheap money will not last forever.
No comments:
Post a Comment