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Update on Interest Rates! Rates continue to fluctuate

Posted by spencerjanke on March 4, 2010

Weekly national mortgage survey

Interest Rates went down a little again this week. After jumping a little at the end of last week. In the last couple of days we are seeing  a huge surge of Refi applications throughout the United States. As buyers and home owners prepare for higher interest rates in the months ahead.

Apparently everyone is heeding my warnings, and have finally realized these rates are a very short term situation. Consumers are preparing for rates to jump back up to what they need to be. It is going to be intersting to see how this shakes out in the economy. I keep having this discussion with many other professionals, and it shocks me to hear the many different opinions. I mean, really? How can you not see that rates can not stay as low as they are currently? With inflation looming over our heads, if we don’t do something things could get a lot worse really fast. Lets just cross our fingers and pray at this point :)..

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One Response to “Update on Interest Rates! Rates continue to fluctuate”

  1. ryan said

    This is quite the interesting time to be in the buying market. I’m casually looking but wont be serious until after the summer. It will be interesting to see what happens to the interest rates once the government incentives are done this month. It’s a gamble, but I’m thinking the Fed may put pressure to keep the interest rates relatively low as the last stand against the huge supply that is in the current market and the wave to come once the bribes end. I mean, could you imagine what will happen to housing prices if the interest rates climb as fast as they should?

    Either way, all of this is good for my situation. …sucks for those trying to sell though.

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