UtahCribs Weblog

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Interest Rates are on the rise 2010. Will interest rates go up? They are going up..

Posted by UtahCribs, Real Estate, Homes on February 1, 2010

Ok, so all those naysayers please read the following article.

Interest Rates are going up…

I keep hearing people say they are going to wait for the bottom, well I hate to say it people but we are here and we are going to be pulling out of it sooner than you think.

Now let me clarify, we may be in a recession for a little longer, the economy may continue to suck, and the Govt. may continue to botch things even more. However the one fact you all know, is interest rates are going up right now, and they will not come down for a while.

So for every $100,000 you borrow, if interest rates go up 1% which will most likely happen your payment is going to go up $100 per month. So you all can do the math.. On a $300,000 home, that is a difference of an additional $300 a month.. What a waste, if you are on the fence do it now, to get the best rate possible…

Good luck, I would love to hear your thoughts. Spencer Janke


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