Will Home Mortgage Rates Hit 20%? Maybe...

If you have read the book "The World is Flat" by New York Times Columnist Thomas Friedman you know that every country on our shrinking globe is connected. If you haven't read it, I strongly recommend it; it a Great Read. If you have no interest in reading it, stop now, go to Taco Bell get dinner and come home to watch Cops!

Currently mortgage interest rates are near record lows. First Time Buyers should be stampeding to take advantage of the low rates and the government incentives. The question is: Will These Rates Last? I found this CNBC clip on YouTube and it does a Great Job of explaining why these rates may not last. It even suggests that mortgage rates could escalate quickly and housing prices could be driven sharply higher by inflation. This would be a double whammy to home buyers.

If this happens and you took advantage of today's low prices and great mortgage rates, it will be time for THE HAPPY DANCE! If things go up modestly, as we all know they will, you will still feel pretty puffy chest about your decision.

Wayne

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