What is Up With Interest Rates?Posted by Sue Perrault on Tuesday, September 25th, 2012 at 8:38pm.
Can interest rates get any lower? I keep going to closing after closing and I'm amazed at the interest rates that buyers are currently getting. 2.75% for a 15 year fixed....seriously? That is free money folks, I can't imagine a better time to buy a house then right now!
Forbes forecast for 2012-2013 states that the short-term interest rates will remain in microscopic territory through 2013. Mortgage rates surged lower again today, continuing an ongoing push into lower all-time lows. Can you believe a 30-year fixed is 3.25%? Not to date myself, but I can remember when we had mortgages in the 12% range....so today's low rates are really a bargain. If you have been on the fence it's time to jump off and take the plunge into home ownership. With rental rates at all time highs the time really is now!
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