Tuesday, August 17, 2010

Interest rate going up again

According to hubby's friend, interest rate is expected to rise again. In turn, property price will go down soon. To me, it makes not much difference to me as i'm not looking for a house at the moment. Given the choice, i'd rather renovate my present house. It's a corner lot with plenty of land for expansion. Hubby said our house is only about 5km from town. As the kids are so young, i will need to ferry them to and from school for many years. So, it's better to stay here for at least the next ten years.

Yesterday, a friend asked me to help her look for a piece of land. It need not be too big, just enough to build a house with around 8000sf of built-up space. She told me the house is actually a gift from her father-in-law. How nice, huh. In a way, the house we're staying at now also belongs to my father-in-law. He'll give the house to hubby next time. Well, if you are about to buy a house, you may want to check out the latest mortgage rates. Be sure to compare the rates and fees first before you decide on which company to borrow from. It make a lot of different as you will be repaying the loan for many many years.

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