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re: When do interest rates rise
Posted on 7/19/16 at 8:43 pm to Shepherd88
Posted on 7/19/16 at 8:43 pm to Shepherd88
There's definitely a housing bubble in that if rates go up, the housing market is going to correct itself. I'm starting to see people buy homes they should not be buying and housing prices in the 3 counties around me are very high right now compared to 1 year ago and especially compared to 2 years ago. People can afford them as is, but I think that is mostly because rates are so low that monthly payments are still decent.
1
Posted on 7/19/16 at 10:42 pm to baldona
baldona, i agree they're getting more home than they can afford but if its locked in on a 30 yr loan its fine, the crash in 2008 was bc everyone was using ARMs, they're tough on who they give those out to today. Whatever it is, rates are gonna be low for a long long time, so we better get used to it.
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