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Wednesday, February 21, 2007

Interest Rates and Condos

It'll be interesting to see if interest rates go up this year. We've been sitting in a pretty stable spot for some time. The economy is doing well and I'm not sure that inflation has gone anywhere. But if rates do go up, I wonder what will happen to housing. With quite a bit of supply on the market, I'm not so sure that sellers will be getting what the going asking prices are at present. What I find interesting is the current boom in condos. I'm not quite confident that the market will continue to be a good one being that there are so many condo projects in the works. I'm feeling like there's a little bit of a condo glut. If rates go north, I think that portion of the market could get worse. I guess we'll see.


angela said...

I wonder that as well. We are on an ARM for our townhouse which will be up next year. So we'll have to refi..I am as you am curious as to where the rates will be in the near future.

Peter said...

I think they'll go up. How far? Who knows. Barring any huge disaster, I think we'll see a slow progression.

arrielle_p said...

I'm agree with you Peter. Can't wait to see the next update what is happen. Will be back to read more. Thanks!

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