[quote=werdna]I’m not much of a astrologer, but if you believe the latest fed dot plot, interest rates are flat this year and increasing one percent next year.
That’s only relevant in areas where buyers usually borrow a LOT of money, typically outlying tracts where most borrowers use superconforming or “Jumbo” mortgage products for the bulk of their purchase money so they can be indebted for most of the rest of their lives with PITI plus HOA dues (for 1-3 assns) plus MR.
If you’re buying a garden variety, run-on-the-mill, $350K to $550K San Diego County house in an established area and using a std 20% (or more) downpayment, then who gives a rat’s a$$ if fixed interest rates are 5% in 2015? If you’re a prospective buyer, you just need to find ONE house you can afford and successfully purchase it, right?
