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re: NY FED survey: Americans expect mortgage rates to rise to nearly 10% in the next three yrs
Posted on 5/16/24 at 9:33 am to wutangfinancial
Posted on 5/16/24 at 9:33 am to wutangfinancial
quote:
Who exactly are the dudes that control the ten year treasury bond?
Those evil dudes at Blackrock i bet!!!! Reeeeeee
This post was edited on 5/16/24 at 9:34 am
Posted on 5/16/24 at 9:36 am to SDVTiger
Incredible that the Fed is this all powerful economic force but they haven’t been able to achieve any of their policy goals, ever. You would think we’d be pumping out 4-5% growth at full employment with stable 2% cost of living increases for decades on end.
Posted on 5/16/24 at 9:38 am to wutangfinancial
quote:
Incredible that the Fed is this all powerful economic force but they haven’t been able to achieve any of their policy goals, ever.
exactly
Posted on 5/16/24 at 9:39 am to Veritas
quote:
You have to make it hurt to fix the problem.
Agree. But the administration said this was all transitory. So they ignored it.
What a world.
Posted on 5/16/24 at 11:57 am to wutangfinancial
quote:
Who exactly are the dudes that control the ten year treasury bond
Fed doesn’t control monetary policy, interest rates, etc?
Posted on 5/16/24 at 12:05 pm to Veritas
quote:
Rates should have gone to 10% immediately when inflation hit. This tick for tack, thread the needle, soft landing stuff is BS.
You have to make it hurt to fix the problem.
100%. I have been saying this
Posted on 5/16/24 at 12:07 pm to Covingtontiger77
People are stuck in a house they won't sell with houses no one can buy. What could go wrong?
Posted on 5/16/24 at 12:18 pm to BamaCoaster
quote:
interest rates
Nope
quote:
monetary policy
Yup
Posted on 5/16/24 at 12:19 pm to Covingtontiger77
quote:
Anyone that takes financial advice from a high school graduate, at best, who passed a real estate exam deserves all the pain coming to them.
I understand the personal responsibility point you are making but because I work with first time homebuyers on a daily basis, I’m going to gently push back.
Many of these people, particularly black people and young people lack ANY personal finance knowledge. They don’t understand interest rates. They don’t understand early payoff. They don’t understand escrow. They don’t understand credit scores and cost of ownership.
These people believe the “ experts “. They are amazingly susceptible to suggestion. Realtors have an ethical duty to cut the blue sky bullshite and let buyers know that interest rates may go up for the indefinite future.
Posted on 5/16/24 at 12:26 pm to wutangfinancial
quote:
wutangfinancial
So who controls interest rates?
Posted on 5/16/24 at 12:28 pm to BamaCoaster
I don’t know. The bond market participants. Are you joking?
Posted on 5/16/24 at 12:31 pm to mule74
We just paid cash for a home lot. Luckily there is no requirement to build.
Looks like I'm gonna just have to put more down and dump in lots of equity or just sit firm.
At 2.99 I'm sitting firm. I will build if I can look in at 6.5...
Looks like I'm gonna just have to put more down and dump in lots of equity or just sit firm.
At 2.99 I'm sitting firm. I will build if I can look in at 6.5...
Posted on 5/16/24 at 12:53 pm to Covingtontiger77
Great!
Home prices are inflated. My home should not be worth double of what I paid to build 5 years ago, but it is.
Home prices are inflated. My home should not be worth double of what I paid to build 5 years ago, but it is.
Posted on 5/16/24 at 1:01 pm to wutangfinancial
quote:
wutangfinancial
I’m not kidding.
Who controls the interest rates?
I would think monetary policy leads to interest rates, and that the Fed is in charge of both.
You laughed and said no.
So, who controls the interest rates?
Posted on 5/16/24 at 1:08 pm to BamaCoaster
I just told you it’s the market
Posted on 5/16/24 at 1:17 pm to Covingtontiger77
The Fed will bring the rate down the minute unemployment reaches 5%. the unemployment numbers have been cooked and revised. The amount of pressure the current administration and if Trump is elected the amount of pressure he will put on the Fed will cause them to lower rates. The current rate Today is 7% on conventional lending, the rate doesn't have to drop drastically to help the market. If they get the rate to 6% the housing market will take off. I get phone calls every month from previous customers inquiring about the current rate. It's not to refinance they want to buy a new house. 17yrs as a loan officer and I know this to be true, 60% of homeowners treat homes like a car, they want a new one ever 5-7yrs.
Posted on 5/17/24 at 5:48 am to wutangfinancial
quote:
wutangfinancial
Ok. So you’re wrong. Got it.
Posted on 5/17/24 at 6:09 am to teke184
The housing market boom of 2020-2022 created an unsustainable growth of home values. The market can sustain 3-5% appreciation by year on average.
Some markets went up by 50+% and people are going to be upset that it corrects back down by 25%. The market will recover, but the individuals who bought at the peak will take the losses.
Time for many to learn the lesson that real estate is not a guaranteed profit. It’s a market where timing is important.
Some markets went up by 50+% and people are going to be upset that it corrects back down by 25%. The market will recover, but the individuals who bought at the peak will take the losses.
Time for many to learn the lesson that real estate is not a guaranteed profit. It’s a market where timing is important.
Posted on 5/17/24 at 7:35 am to Covingtontiger77
Reverse mortgage companies say, "Hallelujah"!!
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