How high we gonna get boys? Double digits in the future?
Yes, Mortgage Rates Are Now Over 7%, But It's Complicated
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I was so pissed our rate went up from 2.5 in January to 4.3 in may because they drug their feet on the new build.... I feel for these bastards looking to buy right now. Im no financial wiz by any means but my tiny little brain says +10% wont be too far down the road.... Few years and probably sitting there for abit?Yep. No other way to fight democrat spending/inflation.
We just closed on our new house and we paid points to stay under 6%.
Economic outlook globally is not looking all that good right now.
Damn that soon?Been saying this for 6 months, it will hit 10% or more by spring.
The FED is going to keep raising their interest rates which in return will raise the mortgage rates greatly. They just did it last week another .75, and that hike hasnt even begun to take effect. Wait untill they do it again at the end of the year. By next spring, it will be very close to 10% if not 10%.Damn that soon?
I was thinking +10 by the middle/end of 2024.The FED is going to keep raising their interest rates which in return will raise the mortgage rates greatly. They just did it last week another .75, and that hike hasnt even begun to take effect. Wait untill they do it again at the end of the year. By next spring, it will be very close to 10% if not 10%.
Its already showing via demand charts... Demand has decreased dramatically since this point last year. People were paying 30k or more over asking for cheap cookie cutter homes, and they were sold within days. Now they are sitting months.I was thinking +10 by the middle/end of 2024.
ooooooo boy the housing markets about to get smacked in the mouth LOL.
View attachment 1762844
Just a normalization, nothing to see here.
I was born in 1981, my parents had a 19% mortgage on their first home.
1/3 of home sales are all cash purchases anyways.
They just want to lock some folks that can't actually afford to buy their home into generational poverty.
Pretty much, I mean wouldnt it be best to buy a home when they keep spiraling down but rates go up only to later refinance at a lower rate when rates drop?View attachment 1762844
Just a normalization, nothing to see here.
I was born in 1981, my parents had a 19% mortgage on their first home.
1/3 of home sales are all cash purchases anyways.
They just want to lock some folks that can't actually afford to buy their home into generational poverty.
They wont be at 800k for much longer. Besides, im sure these homes will be over 1.4 mill 20 years from nowFalse equivalence is a straw-man argument.
Your parent's home in 1981 was $20k, not $800k.
I think that’s the point at least in the FED eyes. Gotta reduce demand of everything.I was thinking +10 by the middle/end of 2024.
ooooooo boy the housing markets about to get smacked in the mouth LOL.
They have to restrict growth to keep inflation down. Making money more expensive to borrow is Econ 101.I think that’s the point at least in the FED eyes. Gotta reduce demand of everything.
I’m OK with the rate hikes…I’m not OK why they are being hiked (govt spending being complete out of control and forcing energy prices up because “save the earth” BS).
Their wages were probably considerably lower as well. I doubt the transition from then till now is linear.False equivalence is a straw-man argument.
Your parent's home in 1981 was $20k, not $800k.
Just keep printing money....we are literally governed by children.Meanwhile they print their own money and ship off hundreds of billions of dollars a year, which we dont have to give, to other counties for bullshit causes.
Ukraine is a prime example. Same with the 85 billion in weapons and equipment we abandoned to terrorists in Afghanistan last year.
You cant make up how incredibly stupid and financially irresponsible your government is.
Right... my point is 7% is much closer to normal than 2.9%
I actually think 7% is too low... depending on credit quality... you want my cash for 30 years??? 12% plus.