Mortgage rates going up or down?

[nimrod]

Obviously we have all seen rates climbing lately. However, given the latest numbers....what do you predict will happen with mortgage rates over the next month, 3 months, 6 months to a year?

Also, where is a good site with updated information regarding interest rate forecasts. I'm not too savy on reading indicators.....I want to read what the "experts" have to say. USAToday is the only source I've been checking. Where else should I go?

Also, what do you predict with regard to building supplies? (concrete, lumber)

 

[stockbroker]

Up up and away. I'm thinking the end of the increases may be in the 8% zone.

 

[softwarewiz]

Well, mortgage rates are something that I don't have personal experience with, but a site that looks pretty good, Nimrod, is http://www.hsh.com/. It looks pretty comprehensive and you can get current mortgage rates for anywhere in the U.S. with a couple of clicks (of course you've got to get past advertising to get those rates, but that's the internet game these days).

I didn't spend much time there, but it seemed the most comprehensive of the sites I quickly took a look at by googling "mortgage rates" ... probably is a better way to go about it, but it might be a start. USA Today is pretty basic on anything, IMHO, whether it be the latest news or the latest financial news and also, despite its title, behind the times (at least insofar as news of internet happenings in my experience with it). Just my two cents worth though.

I think with the current building boom, the price of concrete and supplies used in the housing market has to increase also. Just seems logical. I know where I am, costs are constantly increasing, partly because of fuel increases, but also because of demand way out of the range of the available supply ... basic econ, I guess, at work.

 

[stockbroker]

Rates HAVE to go up to protect the economy. If rates dont continue up the US economy is going to see a lot of foreign investments flying out of the country.