Interest Rates
In my discussions with my favorite lender, Darel Ansley of People’s Bank, it sounds like interest rates are starting to nudge up again. (Around 6.5% +/-) Mortgage professionals are guessing it could reach 6.7% later this summer. The good news is that this is likely as high as it will get for a while. If rates stay under 7% for a few years it will really help the real estate market. I haven’t worked in an era of 12% or worse 18% rates and I can’t say I really want too.
