Mortgage Rates

[runnerr]

Do you think the rate will remain steady or lower in the next year or two??

[Want2retire]

Originally Posted by runnerr

Do you think the rate will remain steady or lower in the next year or two??

I don't have any idea whether they will remain steady, lower, or even rise higher than they are today.

If they lower, I think that would encourage increasing housing prices and help a lot of people who are "upside down" on their mortgages due to low housing prices. So, I hope that happens.

If they lower, I also think houses would start selling because more people could afford them. We plan to retire and move north to Missouri in two years, so this would sure make it easier to sell. If more had been sold in Missouri when we got there, it might take us longer to find just the right house. We'd have plenty of time to look, though.

If they rise, fewer people could afford our house so we would have to drop the price. ugh! But then, maybe house prices in Missouri would drop, too.