Year End Rate Trend
As 2009 comes to a close, interest rates are continuing to rise. Over the past 3 weeks they have increased by over .50% as the economy continues to improve. They show no sign of abating unless some negative economic news is reported. However, they are unlikely to increase too much over the next couple of months until it is clear that the economy truly is improving. With a weak outlook for residential real estate for the first quarter of 2010, look for relatively low interest rates for the next few months.
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