The argument is a slippery slope; If history is any indicator, the if the minimum wage increases, then the trend is for inflation to increase. When inflation rises, the Federal Reserve Board does it's job: INCREASES key short-term interest rates. The result is increases in all interest rates including mortgage rates. With a shift in the US political balance, one of the Democratic principals is to raise taxes across the board. This too will put additional strain on the US consumer, the everyday Joe, you and me. With a record number of 5-year fixed loans coming due in the next 18 months, positioning your refinance NOW with a new 10-year interest-only is a smart move for longer term planning. Don't wait until the rates start to go up. Get it going while they're attractive. Raising minimum wage sounds good in the short term, but in the bigger picture, it'll be a loss due to the cause and effect. Call me for the best loan scenario: Pat Townsley, Mortgage Broker. 415-485-1776. www.PTRE.net
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