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Central IA | That seems a bit high. I would think you could flirt with 6% 5 yr money. 7% with 20 yr lock.
Yes, as someone above said, the long term mortgage rates are somewhat disengaged from short term rates. The low rates we grew accustomed to are from the fed buying their own bonds with newly “printed” money.(quantitative easing, and no, they don’t actually print more money.)
If I had to guess, we will see that(some form of QE) next spring/summer. But that is speculation, financial planning should not be speculation(hope is not a marketing plan).
Hope that made some sense. | |
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Current interest rates
