Americans Expect Interest Rates to Rise

April 13, 2011 (Jeff Alan)
mortgage-goingup-image
In a recent poll conducted by Rasmussen Reports, fifty–four percent of Americans surveyed expected interest rates to rise over the coming year. Only 5 percent expected interest rates to be lower, while 30 percent believed that interest rates would remain the same.

The survey also found that 22 percent said that they were paying higher interest rates than they were a year ago, while just 15 percent claimed they were paying lower interest rates than they were a year ago. The majority (54%) said they were paying about the same.

Americans reported they generally owe less or the same as they did a year ago. Thirty –seven percent said they owed less than a year ago, while 32 percent they owed about the same.

Rasmussen reports that consumer confidence has been falling since February with just 31 percent of those polled rating their own personal finances as good or excellent, while 22 percent rate their finances as getting better and 46 percent saying their finances are getting worse.

Meanwhile, homeowners continue to show no confidence in a short term recovery in the value of their homes. In their last survey, twenty-one percent of adults surveyed who owned their homes believed that the value of their homes would go up in the next year, while 25 percent expect their value to go down. Just about half (52%) believe that their home values will remain the same.

There was some long term optimism however, as 51 percent of the homeowners believed that the value of their homes would be higher five years from now. Twenty-six percent believed their home values would be about the same and 15 percent felt that their homes values will go down.

Tags: Rasmussen Reports, interest rates, consumer confidence, personal finances, short term recovery, long term recovery, homeowners

Sources:
Rasmussen Reports