Interest rates as low as 3-1/2%??

By
Residential Home Builder with A&A Design Build Remodeling, Inc.

I am curious to find out the combine opinion of Active Rainers, will we see interest rates for 30 years fixed as low as 3-1/2% or 4%? I think having interest rate so low will jump start the housing and the economy in general.

With this interest rate, housing will be affordable again for so many more people, the housing prices will stop falling and may be even grow again. People will refinance like there is no tomorrow and all that activity will pump money in to economy.

With mortgage payment reduced, people will have money left and will start buying again. Cars, toys, electronics etc. Builders will start hiring and building again. The same for remodelers, people will start projects they have on hold for a long time. The consumer confidence will grow and we will get back on tracks.

So, what do you think? Is 3-1/2% realistic, or just a dream?

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Topic:
Mortgage / Finance
Location:
District of Columbia
Groups:
Ask the Contractor
Club Chaos
Maryland Home Inspectors
Tags:
chevy chase
washington dc
remodeling
interest rate
maryland
bethesda
financing
potomac
home remodeling
real estate market

Comments 1 New Comment

Rainmaker
99,942
Trey Affolter
Brings HOME Results!
Keller Williams Realty

- interest rates sure makes it more appealing for home buyers & owners considering refinancing and should motivate them. In the article Time to Get Off the Fence and Into a Home, the same message comes in an atricle from NYTimes.com offered by Your Money. Another source with this message was from Smart Money, Time to refinance -- or buy a home? Good information to pass on to our buyers.

Best wishes for 2009!

Trey Affolter

http://www.treysellshouses.com

January 03, 2009 11:52 AM
Rainer
80,540

Alex Shekhtman

Design Build Remodeling, Washington DC, Bethesda, Chevy Chase
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