Yes, Rates are on the way up but are they high?

With the CPI number coming out high today it is true the Feds will raise rates again but are rates really high even if they go to 7-7.25%? NO, in fact they would still be very low in comparison to previous years. In the 70's and 80's rates were MUCH higher than this and borrowers still bought homes. Yes it is true the homes were not as big and stuffed with goodies as they are today but does the borrower really need that big of a home and all the toys in it as soon as the buy it. Maybe it is time to reevaluate between your needs and your desires. Lower your expectations and maybe that payment might just be affordable. Do your homework and get the lowest rate you can. Do not believe the saying" rates are all the same". They are not because some Lenders want to make more than others. Borrowers are still in a very good position in today's marketplace. www.rateinformer.com