Posted on 12/11/2004 4:14:13 PM PST by jb6
Fed all but certain to raise rates another quarter-point Tuesday; how high will rates climb in 2005? December 10, 2004: 1:13 PM EST By Paul R. La Monica, CNN/Money senior writer NEW YORK (CNN/Money) - There's not much anxiety about what the Federal Reserve is going to do on Tuesday. A rate hike is a given, according to most market observers, even though December rate hikes are not all that common. "
(Excerpt) Read more at money.cnn.com ...
Everything else will suck, but my mortgage interest will be low, low, low!
Mine is a 3 year arm with a max rise of 2% every 3 years. So even when it does, it'll still be lower and I plan on selling before then. I transferred most of my other debts to student loans, max rate is 8% and much lower presently. :0) I'm sitting tight.
Yup! We got a nice fixed rate in summer '03, so we have another 14 years at 4-7/8%. We're being eaten alive in taxes and other cost of living elements, but at least our debt is at a low rate.
I'm happy that I don't have a mortgage, and I'm happy that my son's rate is a fixed 4.54%.
Not to mention tax deductible.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.