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re: Average mortgage rates now at 7.5%
Posted on 10/6/26 at 6:36 am to danilo
Posted on 10/6/26 at 6:36 am to danilo
rates are putting a damper on the housing market
We’re going to see the real impact after winter when listings generally start to increase
Cash buyers should take advantage of this gift horse
When rates eventually drop, prices are going to increase
We’re going to see the real impact after winter when listings generally start to increase
Cash buyers should take advantage of this gift horse
When rates eventually drop, prices are going to increase
Posted on 10/6/26 at 7:14 am to PotatoChip
quote:
When rates do drop, everyone who has been waiting the last four years to buy will enter the market driving prices even higher.
This right here. The best time to buy property was yesterday.
Posted on 10/6/26 at 9:37 am to DarthRebel
quote:
Good, home prices need to come down to pre-covid level. Rates are not the issue, home prices are.
This isn't going to happen unfortunately. The cost of supplies and the cost of labor are through the roof since 20/21. There's still a TON of profit margin and they can certainly come down, I don't disagree there. But its not going to be anything crazy drastic.
Posted on 10/6/26 at 10:01 am to baldona
if you own a home you expect it to appreciate indefinitely. If you are trying to buy a home you’re looking for the opposite LOL
Home prices are not coming down, ever. They’ve never done so and never will. Only in a low demand market location will that happen and even then the opportunity in commercial is much greater than in residential
the variable is interest rates when it comes to cost to acquire. That, and SF under roof which is probably the best solution (smaller houses)
Home prices are not coming down, ever. They’ve never done so and never will. Only in a low demand market location will that happen and even then the opportunity in commercial is much greater than in residential
the variable is interest rates when it comes to cost to acquire. That, and SF under roof which is probably the best solution (smaller houses)
Posted on 10/7/26 at 7:55 am to cgrand
quote:
Home prices are not coming down, ever. They’ve never done so and never will.
Guess you slept through 2008-2009
Posted on 10/7/26 at 8:56 am to Lsut81
quote:
Was hoping to get a re-sale in a new build community from someone jumping for work and having to compete with new builds, but the builders offering low 5 interest rates makes it a wash now.
I’m in one of these neighborhoods and the builder homes are sold before they are completed, some before they break ground and the resales sit for 4+ months. Considering the resales are being sold at the same price as the new build, and you can get some incentives with the builder, it would be dumb to buy resale in these neighborhoods at the moment.
Posted on 10/12/26 at 9:44 am to RedHawk
quote:
quote:
When rates do drop, everyone who has been waiting the last four years to buy will enter the market driving prices even higher.
This right here. The best time to buy property was yesterday.
Not necessarily true, IMO. I see a lot of people who have put their house on the market, gone through multiple price drops, and then removed their listing. Inventory is very low where I live.
Four years ago, inventory was low because demand was so high and it drove prices up. Nowadays, inventory is low because houses aren't selling and sellers are pulling their listings, or, in many cases, never putting their house on the market in the first place.
Once the rates go down, the demand AND the supply will go up. For many people, it will be a twofer. They will sell their current house in order to buy another one. I think the prices will remain very competitive for a while until the supply overtakes the demand.
Posted on 10/12/26 at 10:17 am to Jax-Tiger
This drives up the rental market as well
Posted on 10/12/26 at 12:36 pm to danilo
Pay cash and don’t worry about it. Nobody owes you a low rate. Buy what you can afford or don’t buy.
Prices are still to high for a reason.
Prices are still to high for a reason.
Posted on 10/12/26 at 1:07 pm to danilo
The 10 year treasury stands at 5.3%! We haven’t seen that in 20 years!
This does not bode well for stocks
This does not bode well for stocks
This post was edited on 10/12/26 at 7:58 pm
Posted on 10/12/26 at 1:20 pm to SDVTiger
If politics must be introduced, Teump made promises to bring the rates down. He promised below 3% during an appearance at the Economic Club of New York on Sept. 5, 2024, while discussing housing affordability and interest rates.
"Reducing mortgage rates is a big factor. We're going to get them back down to, we think, 3%, maybe even lower than that.
He’s got more time but looking at it from the viewpoint of the Nov elections, the promise certainly looks hollow. The trend is going against him.
He has time and I think when we eventually get some relief in fuel prices, we can start to see inflation under control which should give some relief in rates.
"Reducing mortgage rates is a big factor. We're going to get them back down to, we think, 3%, maybe even lower than that.
He’s got more time but looking at it from the viewpoint of the Nov elections, the promise certainly looks hollow. The trend is going against him.
He has time and I think when we eventually get some relief in fuel prices, we can start to see inflation under control which should give some relief in rates.
Posted on 10/12/26 at 1:41 pm to Tigerfan14
Builders offering financing around 2-2.5% lower which is huge for them versus the resell houses
Posted on 10/14/26 at 3:52 pm to danilo
A guy with our mortgage company keeps calling me and my wife. We refinanced in 2021 or 2022. Our rate is 2.75%.
What is his angle? What can he possibly offer??
What is his angle? What can he possibly offer??
Posted on 10/14/26 at 4:01 pm to LSU alum wannabe
quote:
A guy with our mortgage company keeps calling me and my wife
quote:have you tried asking him that question?
What can he possibly offer?
Posted on 10/14/26 at 4:28 pm to SlidellCajun
quote:I have 35% my portfolio in bonds as of a month ago
The 10 year treasury stands at 5.3%! We haven’t seen that in 20 years!
Posted on 10/14/26 at 4:40 pm to thunderbird1100
Labor shortages, material cost increases pushing 3 and 400% above pandemic levels, bond rate surge
New construction is not economically feasible right now. So home prices are going nowhere but up.
First time we've experienced significant inflation since the 70's.
And with 2 trillion annual government deficit and massive debt levels, bond rates staying high
Good times....
New construction is not economically feasible right now. So home prices are going nowhere but up.
First time we've experienced significant inflation since the 70's.
And with 2 trillion annual government deficit and massive debt levels, bond rates staying high
Good times....
This post was edited on 10/14/26 at 4:44 pm
Posted on 10/14/26 at 6:25 pm to SlidellCajun
quote:
The 10 year treasury stands at 5.3%! We haven’t seen that in 20 years!
Went back under 5.2 so lots of demand at that yield
Stock market is gonna be in for a wild ride
Posted on 10/14/26 at 6:35 pm to ronricks
quote:
Been hearing this for four years now.
Exactly.
People just won't move to take on a new rate 2x their current rates, and builders aren't going to literally lose money on new builds.
Prices aren't going to move far from where they are, people will still buy, just at a slower conversion rate.
Posted on 10/14/26 at 6:47 pm to Lsut81
quote:same, we are always kicking around the idea and look at 3 and 5 year plans. But at 7.5% that’s a no bueno on borrowing money. Have about a million in equity in our current home so any move would need to stay below that.
I was thinking about a move, but seeing rates has me reconsidering. Hasn't been enough of a pullback in the market to offset these interest rates.
Posted on 10/14/26 at 7:09 pm to thegreatboudini
quote:
People just won't move to take on a new rate 2x their current rates
Saw an article yesterday that 300k ARM’s are about to reset in January. There will be a lot of people whose interest rates will double soon.
It will get really interesting if the fed raises rates two or three more times next year.
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