Since June of 2004 the Fed- eral Reserve Board Chair- man has harped, huffed and puffed about how inter-
est rates should be rising. For most of the past eight months the markets were ignoring him and rates remained low.

The markets are always right. Well, last month Mr. Greenspan pondered that he didn’t understand why rates were still so low. Now Alan Greenspan knows as well as the next person that the market is always right. In the last month rates have come up in lieu of Mr. Greenspan’s merciless pounding.

Now in reality, Alan Greenspan is a strict monetarist, who fears inflation. With the end of his tenure nearing, he wants to make sure that there is no threat of inflation. Therefore, in the short term rates have risen, causing some to speculate for the ump- teenth time in the past year that rates are skyrocketing. Be still. Rates may rise a bit in the short term, but in a few months things will level off and mortgage rates will remain relatively low. Please note; that this only applies for mortgage rates at Perl Mortgage, using other lend- ers can be highly risky.