UtahCribs Weblog

Real Estate, Homes, News, Statistics and more

Interest Rates? What will happen?

Posted by UtahCribs, Real Estate, Homes on May 13, 2009

As many of you know, we are in an interesting moment in history. Our current economic situation is uncharted territory for many individuals. I am a 28 year old Real Estate Broker from Salt Lake City, UTAH. What do I know? 

That is the beauty of all this. None of us really know what is going to happen! We watch on the news every night different analysts telling us completely different things. 

Fact. Currently interest rates are at an all time low. Fact. Real Estate prices are depressed and lower than they have been in years. Fact. In Salt Lake City, Real Estate prices have gone back to the prices before the boom. So basically you can just push delete on the last 5 years. Almost like it never happened. 

Fact. Interest Rates can not stay this low forever. If they did we would be in a situation far worse than the current one. Inflation is on the rise, and the one thing the Fed. can control to combat that is raising interest rates. So, rest assured the one thing we all can predict right now, is that the great interest rates you are seeing advertised all throughout the media will not last forever. I am predicting by 2010 you will see an increase. Which will mean the average persons monthly payment will go up possible $200- $500 a month.. So take advantage now..

Spencer Janke


One Response to “Interest Rates? What will happen?”

  1. Sen. Lowell Barron and other members of the Senate Democratic Caucus said Wednesday they will make the proposed constitutional amendment a priority for the legislative session beginning Jan. 12.

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