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Message
Mortgages Jump to 7.16%, Highest Since 2001
Posted on 10/27/22 at 9:14 am
Posted on 10/27/22 at 9:14 am
quote:
LINK
The average interest rate on the most popular U.S. home loan rose to its highest level since 2001 as tightening financial conditions weigh on the housing sector, data from the Mortgage Bankers Association (MBA) showed Wednesday.
The average contract rate on a 30-year fixed-rate mortgage rose by 22 basis points to 7.16% for the week ended Oct. 21 while the MBA's Market Composite Index, a measure of mortgage loan application volume, fell 1.7% from a week earlier. Mortgage application activity is at its slowest pace since 1997.
Mortgage rates have more than doubled since the beginning of the year, as the Federal Reserve pursues an aggressive path of interest rate hikes to rein in stubbornly high inflation.
19
Posted on 10/27/22 at 9:15 am to frequent flyer
Good
Crash is coming and I have my eyes on several properties out west
Crash is coming and I have my eyes on several properties out west
Posted on 10/27/22 at 9:16 am to frequent flyer
quote:
Mortgages Jump to 7.16%, Highest Since 2001
Bidens* America
Posted on 10/27/22 at 9:19 am to frequent flyer
This is better than Mean Tweets. Now send another 20 billion to Ukraine
Posted on 10/27/22 at 9:20 am to frequent flyer
Mortgages were 18% under Carter and people still bought. If you're willing to hedge you could buy at a high rate and lower price and refinance later if things level out.
Posted on 10/27/22 at 9:26 am to frequent flyer
And my retirement savings are at about 60% of end of year value. That’s tough as I live on the earnings. Lots of folks in my boots. It’s not a great time to be retired.
Posted on 10/27/22 at 9:35 am to frequent flyer
But no mean tweets
Posted on 10/27/22 at 9:36 am to frequent flyer
They are not 7.1 and have dropped yuge this week
Posted on 10/27/22 at 9:38 am to frequent flyer
Posted on 10/27/22 at 9:42 am to frequent flyer
I really hope we get some balance with the midterm results.
Posted on 10/27/22 at 9:51 am to frequent flyer
Just wait till Nov. 2
Posted on 10/27/22 at 10:29 am to frequent flyer
Failure Joe and his administration are fricking disasters. Thanks to the idiots who voted for this garbage. We appreciate it.
Posted on 10/27/22 at 10:40 am to frequent flyer
Love my 2.80%....10 years left. Will be buying rentals during the crash!
Posted on 10/27/22 at 10:54 am to frequent flyer
Just taking houses longer to sell in my neighborhood. People are still getting asking, or just slightly above it. No crazy bidding wars anymore aside from one or two properties.
This post was edited on 10/27/22 at 10:56 am
Posted on 10/27/22 at 11:50 am to frequent flyer
Consumers were spoiled when the rates were very low. A correction was due.
It doesn’t matter if it’s a sellers market or a buyers market it doesn’t stay that way - it always shifts
It doesn’t matter if it’s a sellers market or a buyers market it doesn’t stay that way - it always shifts
Posted on 10/27/22 at 11:57 am to frequent flyer
nah, that can’t be right. i was told by the administration that judging by the 3Q #’s, the economy is in great shape.
Posted on 10/27/22 at 12:21 pm to frequent flyer
You young uns getting a taste of what we paid back in the day. You'll all survive.
Posted on 10/27/22 at 1:20 pm to frequent flyer
Any OT realtors out here starting to dust off the old resumes?
Posted on 10/27/22 at 5:04 pm to frequent flyer
My rate keeps looking better and better.
Posted on 10/27/22 at 5:09 pm to frequent flyer
Will someone wake up uncle joe and let him know.
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