[justjim]

Watching CNBC this morning and an interesting number caught my attention. Interest rates over the next 2 to 3 years are expected to climb to the 6% range. It was pointed out that would be a 34% increase in mortgage payment. This is significant and would be enough for many first time buyers and those who want to move up to opt out or be "turned out" of a mortgage approval. The good news---in the short run the increase in interest rates will actually increase housing purchases as people run to buy before the rates push them out of the market. Bottom line----it appears we will probably have a couple of years of a window where housing prices will significantly increase. Good news for property owners. For those thinking about buying their retirement home, you might want to speed up your buying schedule or pay a significant higher price for your retirement home.