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re: Real estate is insane. Is this sustainable?
Posted on 3/18/21 at 7:24 am to AUjim
Posted on 3/18/21 at 7:24 am to AUjim
HELOCs won’t be the problem. Most lenders tightened up a lot on the amount you could pull out of new HELOCs last year. Also, they are only for 10 years. The issue is all of the cash out refinances. Tons of people are pulling a lot of their equity out of their homes and rolling back into a 30 year loan.
1
Posted on 3/18/21 at 8:22 am to LSU1018
I have seen some people in high mortgages get rid of their HELOC by going into a JUMBO loan with better rates. Closed a $750k loan for 2.5%- Cannot beat that right now.
And since credit card rates are so high, some people would be crazy not to refinance and pay off that high interest rates. Especially, if they do not plan to move anytime soon
And since credit card rates are so high, some people would be crazy not to refinance and pay off that high interest rates. Especially, if they do not plan to move anytime soon
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