Interest Rates are low, where will the go? and when?

Everyone at one time or another is concerned with mortgageg interest rates. Today and for the past 4-5 years we have been experiencing all time low rates or at least less than 5%. The FED, or Federal Reserve, has continued to purchase up to $85 Billion per month of mortgage backed bonds in the Secondary Mortgage Market to create a supply of money to allow mortgages to be available to you, Joe Public, and myself. This issuing of mortgage bonds has kept the borrowing limit very low and there has been some indication that it will not continue. However, given the delicate nature of the recovery from the Recession the low rates we have become accustomed to will remain for the immediate future. Here is a write up from Elliot Eisenberg a trusted economist on Real Estate on the tapering of the mortage back bond purchases and thus current interst rates:
Given the government closure and resulting lack of economic data, the fact that Q3 GDP growth will be below 2% and that inflation remains very tame, virtually guarantees that tapering will not commence following the conclusion of the late October Fed interest rate setting meeting. Now with the formal nomination of Janet Yellen for the post of Chairman, I’m 100% sure tapering will not commence before January.

Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC

Therefore you can rest assured interest rates will continue to remain at or near current levels through the remainder of 2013.
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MLS Websites and those other sites for property search….

Just attended a national meeting of MLS’ in Boise ID where much discussion revolves around the value of MLS public facing websites and other Real Estate sites such as, Zillow and Trulia and 50 or 60 other sites. These sites all receive the information on listings you search for from the MLS into which I submit listings. Very interesting that everyone has a favorite place to search although really unconcerned with the quality of the data they are looking at. I for one, hope that you, the public at large who love to look at property, use my website first and the MLS public website second and all the others combined last. However, the reality is the public searchs for information the other way around. Going to or on a regular basis and creating a mega use site that gets the info for free and ultimately become Billion $$ companies. Just trying to get the word out to the public that many of these sites boost the cost of buying and selling homes. They take money out of the active Agents pockets and make the Real Estate market more confusing to negotiate. Please consider creating relationships with trusted individuals, especially REALTORS, in the communities in which you intend to live. They provide you with the best search and most accurate infomation about the Real Estate listings in your community. The Zillows and Trulias on the internet sell your info to the highest bidder thus the sucking money out of the market place and you get the result; inexperienced agents and others unable to build a business relationship that you can trust.
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