Mortgage rates and Cost of Living expected to rise in 2011

Mortgage rates and cost of living expected to rise in 2011 

    Many analysts had predicted that 2010 would mark the beginning of the end of the recession and return the American People to the financial freedoms that they have experienced in years past.  There are however more than a few economists who will tell you a slightly different story.  I came across this article on Yahoo that focuses on 9 areas that are expected to moderately to drastically change their cost in this coming year.
     Jeff Brown wrote a short while ago that the "rates are still so low there's a better chance they'll go up than down," and "while [home shoppers] might get a cheaper mortgage today than in six or eight months, the housing market is still pretty risky. Prices are continuing to fall ... so a home bought today could be worth less later."  Speaking on a Nationwide scale, this could very well be true.  Local markets do regulate themselves and as Home-Owners' and Agents know, the market can change dramatically from one location to another.
    Home prices also took a dive in late 2010 across the country and many experts did expect a double-dip recession to add to our worries.  In the Washington DC area and Northern Virginia, we have seen steady prices in most demographics and the market activity is definitely increasing as more people are taking advantage of the low interest rates.  There are many experts that claim national prices won't be back to normal levels until 2014.
    Take time to read the article as it references Gas, Healthcare, and various other topics as well that are expected to become more expensive in the coming year.  If you or anyone you know has any questions about the Fairfax VA or Northern Virginia Real Estate markets please feel free to direct them to my website, blog, or contact me at 571.268.7853.

Braden Halter
EXIT Advantage Realty
Fairfax, VA
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