Interest Rates are Likely to Head Up
The average 30 year fixed interest rates have been on the rise since May 9th. Inflation fears continue to creep into the markets with higher food and energy costs and based on all of the technical indicators, the higher interest rate trend is expected to continue. Many Economists are predicting rates to continue to rise into the 7's and maintain that level for some time. If you are sitting on the fence about buying, think twice about it... time is running out for a perfect time to buy! Higher interest rates affect the overall monthly payment more than higher home prices which, by the way, are leveling out....and most likely will start increasing modestly in 09, as many economists are now predicting. Visit http://www.cherylclayton.com/Buying/page_1489778.html to see a one year running chart on the 30 year mortgage.