I’ve ready many predictions about the impending interest rate hike, like this one from Monday over at Housingwire. Now, it probably easy to add snark to my tone, but it’s not there. I understand economics and why interest rates cannot remain at this level. I just find it amusing that I’ve seen “rates rising” predictions for years without the rates really rising (ok, they’ve moved up, but that’s not the point).
It’s probably nearly impossible to predict when the rates will go up. But, really, for most of us, that really shouldn’t matter. What does matter is that they WILL go up, whether that’s this month, this quarter, this year or next; everything about the system demands they rise. Trying to game this and grab rates at their peak lowness (actually, I think that time has past) is foolish. If you are in place to buy or refinance, just go and do it. Remember the African adage: the best time to plant a tree is 5 years ago, the second best time is today.