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Started By
Message
re: Fed potentially raising rates
Posted on 10/8/17 at 4:13 pm to KillTheGophers
Posted on 10/8/17 at 4:13 pm to KillTheGophers
I have no debt. Going back and forth between renting closer to work or buying closer to work. A house all together would cost a couple hundred more a month in the price range im looking (low end for the area) vs an apartment
This post was edited on 10/8/17 at 4:14 pm
0
Posted on 10/8/17 at 8:29 pm to 50_Tiger
Based on Yellen's comments I think they're going to skip the Dec hike and wait til Q1 or Q2.
Posted on 10/9/17 at 7:50 am to WONTONGO
Had a client get quoted 3.875% on 30 year jumbo on Friday. Money is disgustingly cheap and has been for almost a decade. You would have to speculate at some point this drying up, but FED has to do some major hikes to get rates out of the 4’s.
So I don’t see a need to impulse buy if you’re not ready, but if you see 1-2 hikes in the next couple cycles might think more about pulling trigger. Remember higher rates affect lower median priced housing way more than above median pricing.
So I don’t see a need to impulse buy if you’re not ready, but if you see 1-2 hikes in the next couple cycles might think more about pulling trigger. Remember higher rates affect lower median priced housing way more than above median pricing.
Posted on 10/9/17 at 8:27 am to ItNeverRains
I was quoted 3.125 on a jumbo just a few weeks ago by a Credit Union 
Posted on 10/9/17 at 9:06 am to WONTONGO
quote:
Based on Yellen's comments I think they're going to skip the Dec hike and wait til Q1 or Q2.
I am scrambling right now to pay off the last credit card by December and make a decision on if I need to get into the housing market before.
I am a older millennial with a few years into my career (Engineering). I had originally made the decision to hold off on buying a home until I settled down with someone and it was a joint decision. However, I am a tad worried that if ~ 1-2 years from now I would of cost myself more than if I just pulled the trigger.
I pay 1425 a month in rent already now. I figure a house would be ~1800-2k. I have ~800 available after all bills and investments now.
So huge dilemma :( .
Posted on 10/9/17 at 9:25 am to BACONisMEATcandy
Had to have been a 15yr right?
Posted on 10/9/17 at 9:42 am to 50_Tiger
Are you me? 
Posted on 10/9/17 at 9:45 am to jimbeam
quote:
Are you me?
Lol!
I know quite a few people in similar positions.
Posted on 10/9/17 at 10:31 am to 50_Tiger
quote:
I know quite a few people in similar positions
Raises hand. I'm also on the verge of getting serious with my relationship so ideally would not buy for another 6-12 months. Trying not to be impulsive but it's difficult.
Posted on 10/9/17 at 1:32 pm to GenesChin
quote:
Had to have been a 15yr right
That’s where my 15 year rates are 0/0. Haven’t seen anything lower than 3.75 on 30 year jumbo money
Posted on 10/9/17 at 8:13 pm to 50_Tiger
I don't believe in timing the market, but I do believe there will be a correction in the next 2 years. It won't be anything like 2008, but prices will come down a bit and rates will go up. Even rates in the 5s are extremely low historically.
I guess the point is, there is no urgency. I don't think you'll get hurt either way.
Where do you live? Do you expect to stay there long term? If so go ahead and do it. You'll be building equity and saving on rent. That is unless you're in a really over priced market.
I guess the point is, there is no urgency. I don't think you'll get hurt either way.
Where do you live? Do you expect to stay there long term? If so go ahead and do it. You'll be building equity and saving on rent. That is unless you're in a really over priced market.
Posted on 10/9/17 at 8:18 pm to 50_Tiger
I'd also add that you're in a great negotiating position. You don't have to buy, so look for a great deal on something you can add value to over time. If you can see a great house through awful paint colors and tacky furniture you can get a great deal on a house because 90% of the population can't.
Posted on 10/9/17 at 9:52 pm to GenesChin
Nope 30 year jumbo but had to put 30% down
Posted on 10/10/17 at 7:42 am to BACONisMEATcandy
quote:
Nope 30 year jumbo but had to put 30% down
Jesus Christ
What did the numbers look like in terms of cost reward?
Posted on 10/10/17 at 8:17 am to WONTONGO
quote:
Where do you live? Do you expect to stay there long term? If so go ahead and do it. You'll be building equity and saving on rent. That is unless you're in a really over priced market.
North Dallas. Probably one of the hottest and over priced markets in the US right now outside of Nashville.
Plan on staying here for a very long time.
Most of the old home inventory is GONE. It's either buy new or relatively new @ over $150 per sqft.
Posted on 10/10/17 at 12:43 pm to GenesChin
I never did them because I didn’t have 30% sadly
Posted on 10/10/17 at 3:48 pm to BACONisMEATcandy
quote:
I never did them because I didn’t have 30% sadly
I figured you just were rolling a house sale over. 30% is a huge downpayment on a jumbo loan just in terms of liquid assets
Which credit union was this?
Posted on 10/10/17 at 9:34 pm to GenesChin
Navy Federal.
Nope sadly my first home purchase was a jumbo. On the brightside we should get great equity out of this House here in the next 5 years
Nope sadly my first home purchase was a jumbo. On the brightside we should get great equity out of this House here in the next 5 years
Posted on 10/10/17 at 11:23 pm to BACONisMEATcandy
Any origination fees on that though?
Posted on 10/11/17 at 7:46 am to GenesChin
Zero Origination fees and no points
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