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Now”s The Time To Lock In Mortgage Rate

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A leading economist is telling home buyers that now is the time to lock in for the best rate for a mortgage.

Irwin Kellner, Weller professor of economics at Hofstra University, also says he expects short-term interest rates to start moving up slowly in the first few months of the new year as the Federal Reserve holds the line until early Spring.

But Kellner´s advice to home buyers and other big-tickets purchasers is to grab the lower rates, saying they´re not likely to be this low again for some time.

As for where interest rates will be at the end of 2003, Kellner predicts they´ll be up, but not high enough to impinge on the performance of the stock market.