November, 2009
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Are home mortgage loan rates going to continue to go down?
Posted on November 24th, 2009 by admin.
Categories: Mortgage News.
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A local bank here is at 4.85% apr on a 30 year mortgage with zero points, do you believe they will continue to decrease or will they turn soon? thanks!! Why?
I believe that interest rates and inflation will start to climb if Obama continues to print money to give away. This will drive down the value of the dollar, which causes prices to rise. Lending institutions will have to raise their interest rates to make up the difference in the falling value of the dollar.
Do you remember when Jimmy Carter was President? Or at least heard of him? Home loan rates, under his administration, went to 22%. We had double-digit inflation. He was a one-term president.
When my wife and I bought our home in 1978, we were lucky to get a mortgage loan with a 9.50% interest rate. That was 31 years ago. After we bought our home, mortgage rates more than doubled our rate. (more…)