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Started By
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re: 30-year fixed-rate mortgages reach 7.15%
Posted on 10/19/22 at 9:03 am to KAGTASTIC
Posted on 10/19/22 at 9:03 am to KAGTASTIC
quote:
Ok I'll play...what makes you think this...and would have to happen for this prediction to occur?
I posted above why i think that could happen
Not to mention Fannie Mae predicts 4.3% rates
quote:that was in Sept 2022
Fannie Mae has predicted that the 30-year fixed-rate mortgage will drop to an average of 4.5% in 2023, REALTOR magazine
As do the Banks which is why they are charging so much (and covering inflation)
This was going to happen before Covid anyways but that fricked it up lioe everything else
quote:
hate him just as much as you do but this is the Fed.
Feds dont move Mortgage Rates inflation does
This post was edited on 10/19/22 at 9:05 am
3
Posted on 10/19/22 at 9:27 am to SDVTiger
quote:
Feds dont move Mortgage Rates inflation does
Not sure who you quoted for the above response, but wondering something...what rate are mortgage providers paying now compared to a year/6 months ago?
Posted on 10/19/22 at 9:49 am to SDVTiger
quote:
Not to mention Fannie Mae predicts 4.3% rates
Same Fannie Mae that fricked us in the mid 2000’s? And we had to bail out to the tune of 116 Billion taxpayer dollars?
Posted on 10/20/22 at 3:30 am to SDVTiger
quote:inflation, the economy, employment AND Fed policy ALL affect mortgage rates. The fed funds rate is the benchmark at which banks borrow and lend money and any increase is passed directly to consumers.
Feds dont move Mortgage Rates inflation does
And all these comparisons to 1980 fail to include the national debt that must be serviced at higher rates.
1980 - Debt $980B 32% debt to GDP
2022 - Debt $30T 123% debt to GDP
Comparing todays interest rates to the 1980s is apples to hand grenades
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