Interest Rates & Real Estate

Being active in both the Whatcom & Skagit County real estate markets we often get asked "where are interest rates today?"

This question means different things to different people. For some they want to know if they got a good deal when they locked their rate, others want to know if they should lock their loans now. "Should I buy now or wait for conditions to get better?" seems to be the perpetual question.

Here is a short article from Reuters News quoting Allen Greenspan concerning the current state of interest rates and the ecconomy:


Daily Real Estate News June 16, 2008
Greenspan Predicts Rise in Interest Rates

The credit crisis is under control, but with inflation now the top concern, higher interest rates can be expected, said former Federal Reserve Chief Alan Greenspan said last week.

Greenspan said he thought the credit crisis had peaked in March. "I think the worst is over (for the U.S. economy) if the financial crisis is over," Greenspan said via video link to an event in Mexico.

But to keep inflation under control, Greenspan said the fed will have to tighten monetary policy and that will drive up interest rates.

Source: Reuters News (06/13/2008)

So, if you are in a position that a change in interest rates may affect you, wheter you are buying, selling, refinancing...it may be time to make some decisions.

If you have questions or would like more information just give one of us a call, we would love to talk with you.