Which direction is the Housing Market and Interest Rates Heading?

It appears some of the Housing market is heading South in the overheated areas of the country so that is good news for Home Buyers and still not necessarily bad news for the over priced homes the sellers have on the market. It just means they will have to be a little more reasonable in their pricing if they want to move their property. On the flip side Interest Rates are still heading North but hopefully will not go all the way to Alaska!. The Feds are very concerned about Oil prices because it can cause chaos to the economy and bring about Inflation. Oil hit new highs today of over $74. Interest Rates could rise another .50% if things do not settle down. We are expecting the Feds to raise rates in may which should raise our rates about .25-.375 but what will high Oil prices do to our economy? If you are looking to buy it is still a very good time and even if rates do go some they will still be low by looking at years past. if you are building keep a very close eye on your completion date and try to lock if you are within 60-90 days away from completion. It will take a lot of relief off of your mind. www.rateinformer.com