So just wondering what others are seeing for the longer term interest rates. I am using floating at .5 over prime and not even sure what my prime is at the moment if its 3 or 3.5. Guess I asked the bank manager enough last year where prime is at, not all banks have the same primes these days I guess. So what can a farmer get for 1,2 or 3 year rates now. Thinking it is variable out there. Personally I don't think we have an increase coming. And certainly not double.
-
-
A banker quoted me somewhere around 6% for a 5 year term the other day. He recommended floating it as the difference is significant.
But I'm nervous about inflation suddenly kicking in and I don't think I've ever locked in something as low as 6% before.
I'm still undecided on which way I'll go on this one. -
3.25 floating 5 locked for 5 yrs took 5Comment
-
We are on floating rates...but are watching them very carefully. Heard on the radio that spring of 2010 will be time to lock them in.Comment
-
Just a guess but I would think if the banks are offering 5 for 5years. Don't worry too much about interest rates climbing much. The banks know what they are doing and floating is historically better than locking in.Comment
-
This proves anything is possible in bizzaro world.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6sLTPhCxRywComment
-
>
Comment
-
<a href="http://dilbert.com/strips/comic/2009-10-24/" title="Dilbert.com"><img src="http://dilbert.com/dyn/str_strip/000000000/00000000/0000000/000000/70000/1000/200/71293/71293.strip.gif" border="0" alt="Dilbert.com" /></a>Comment
- Reply to this Thread
- Return to Topic List
Comment