Rate Predictions for 2010
In reading over many recent publications it looks like the interest rates will be at their lowest during the first quarter of 2010. The Federal Reserve along with additional government programs that have helped keep interest rates low will be phased out over the next three months in hope that the private markets will come in and take over where they left off and this is what needs to happen to insure growth in the economy.
However, it is expected to be a bit bumpy since no one knows how much or exactly when the private markets will jump in and take up the slack. That means that interest rates may be (some say will be) rising throughout the remainder of 2010. Of course, since there are so many unknowns, no one can say for sure what will happen exactly. A few predict that the government will have to get involved again before it can totally let the markets go and we will all have to wait and see as the year progresses. The one thing everyone seems to agree on it that for those in the market to purchase a home; interest rates will be at their best in the next few months.
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