Diamond Mortgage Blog

How long do you think the interest rates will stay low?

I get asked this question almost everyday or every other day. Here is my crystal ball prediction!

I believe rates will stay low till Spring of 2011 because real estate is the only thing driving the economy and has been for the last seven years. Plus unemployment is still high. The government is trying to keep current home owners in their properties and get 1st time buyers in the market to create spending.

I think rates will move up a little in April because families like to move during the summer months before school starts for their children then the two weeks before Thanksgiving rates will drop low because no one is thinking about moving during the holidays.

Its a great time to look for that property now before May because that will be the end of the $8,000 tax credit from the IRS for 1st time buyer or $6,500 for move-up buyers.

You have any question contact Diamond Mortgage Lending.