Interest rates will be in 2 years

[pathfinders]

Hello,


I am interested in Loan officers real estate Professionals for where they think the Interest rates will be in 2 years, Presently 3.5 30 year fixed

we filed chapter 7 over 2 years ago, the bank took our house back 1 year ago DIL, so we need 2 year more for FHA or Conventional , even through we can put down 20% and our FICO scores are near low 700's.

We are in the orlando area, Prices i do not believe are going to go up much in the next 2 years, maybe 3%-7% higher Maun concern would be Interest rates over the next few years, Please let me know your thoughts;

[Logan]

No on knows where interest rates will be in 2 years.

[KAM465]

Based on the most recent Fed's Quantitative Easing 3 (QE3), I have read that interest rates are expected to remain relatively low for the next 2-3 years. The biggest outcome of QE3 will be the governments ability to pay-off higher interest debt in exchange for more debt at basically Zero Interest. This will drive up inflation and the cost of commodities (ie: food and energy).

When the rates start to increase, the US Government's cost to service the dept will increase substantually adding more debt, and so on. Basically the same reason most of us are here on the website.

[frogger]

Based on the most recent Fed's Quantitative Easing 3 (QE3), I have read that interest rates are expected to remain relatively low for the next 2-3 years. The biggest outcome of QE3 will be the governments ability to pay-off higher interest debt in exchange for more debt at basically Zero Interest. This will drive up inflation and the cost of commodities (ie: food and energy).

IMO, it is going to be impossible for the Fed to raise interest rates anytime soon. 2-3 years being low pretty much guaranteed, and who knows for how long after that. Uncle Sam needs to visit here and plan for an orderly bk instead of placing bandaids on the wounds as they are doing now.

[CCsAreEvil]

I do see housing values going up faster than they should be. Although, most of it I'm hearing is still being driven by investors paying with cash. Unemployment is still high in a lot of states. I don't get it. Here we go again?

[Logan]

I do see housing values going up faster than they should be. Although, most of it I'm hearing is still being driven by investors paying with cash. Unemployment is still high in a lot of states. I don't get it. Here we go again?

Supply and demand. If people are willing to pay then the prices go up. I live in Naples Fl and the inventory is very thin. I'm looking at buying in the spring so I have some time but there is nothing available which means the prices will go up.

Logan

[pathfinders]

This news has been reproted by seral news sources, Google it yurself:


This will be helping a lot of people, me in particular;


FHA : "Ignore" Foreclosures, Bankruptcy, Short Sales?
Major derogatory events include foreclosure, short sale, and Chapter 7 bankruptcy. The mandatory waiting period of each of the aforementioned events are as follows, assuming credit has been re-established by the borrower :

Foreclosure : Must wait 3 years before eligible for FHA-insured financing
Short Sale In Default : Must wait 3 years before eligible for FHA-insured financing
Chapter 7 Bankruptcy : Must wait 2 years before eligible for FHA-insured financing


Under the FHA's expected new plan, these waiting periods will be waived in full.

Soon, FHA-insured loans may be available to home buyers who may have been recently foreclosed upon; for whom a short sale was necessary; or for whom a Chapter 7 bankruptcy was discharged yesterday.

The FHA's new waiver on foreclosures, short sales and bankruptcies would add to the national pool of home buyers, creating buy-side demand for housing and upward pressure for home values nationwide.

[spidge]

IMO, it is going to be impossible for the Fed to raise interest rates anytime soon. 2-3 years being low pretty much guaranteed, and who knows for how long after that. Uncle Sam needs to visit here and plan for an orderly bk instead of placing bandaids on the wounds as they are doing now.

You mean they don't have a 401K to withdraw from first? Oh wait they did that already by almost liquidating Social Security.

[CCsAreEvil]

However, most people's credit are shot right after a Chapter 7, foreclosure, etc.. no?

[LadyInTheRed]

However, most people's credit are shot right after a Chapter 7, foreclosure, etc.. no?

You can have a credit score as low as 500 and qualify for an FHA loan. If it is less than 580, you have to have a bigger down payment.

[chicagoed195]

Here is a site that has projected interest rates. There is a link that will take you to their facebook page for the three year forecast.

http://www.equityvista.com/public/mortgage-rate-forecast.php