relationship with Bankers...

[aggie]

I am wondering what everyone is getting from their bankers this spring - are they 'open' for business....

Has anyone recently locked in a longterm mortgage with their bank...what rates are you seeing for 5 year mortgages..

[FarmRanger]

Just borrowed over 100K for land and I just got a
floating p 1/2 ..... for now. I think the 5 year
money was around that 6% area.

[tmyrfield]

5 year ag mortgage money just under %6. 1 yr floating %4.5. i am going to lock in all for 5 years, a little more but i went through the 80"s and %21 is no fun. eventually china is going to tell U.S. that they need more for their paper.

[aggie]

I agree with the locking in concept.... we were looking at 5 year and 7 year terms.

interestingly it doesn't seem that the bankers are encouraging that people lockin.

There is a short term cost - but also do fear that the interest rates have far more room to move up than they do to move down !!

Under 6% - I can't complain with those costs for 5 years...how much under 6% are we seeing....

[mbratrud]

Just did some equipemnt for 4.25 3 years. Operating line is creeping up though 3.85% 1.5% higher than last year

[dalek]

Just working on one now. 5 yr, flipping back and forth between 5.5 and 5.6%. Floating 1 yr at 3.5%.