Quote:
Originally Posted by Sylvanfan
When I hear talk of 6-7% historical averages....it's like people thing that's the historical goverment prime rate and that borrowing rates will go up 7%. Really thats maybe a historical mortgage rate which would be about 2.5 to 3% higher than the current rates. It will squeeze people but it won't ruin 95% of the population which is the impression I get from the nay sayers in this thread.
I'm personally more concerned with food prices going up.
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For what it's worth you can lock into a
10 year fixed mortgage at 4.84% right now. If there are banks offering those kinds of terms they're not expecting a substantial rate increase any time soon.