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Started By
Message
re: Mortgage Rate Predictions
Posted on 10/3/22 at 11:35 am to texas tortilla
Posted on 10/3/22 at 11:35 am to texas tortilla
quote:
Fed has an emergency meeting tomorrow.
No, they don’t.
1
Posted on 10/3/22 at 11:59 am to tigerbaiter1033
quote:Houses here are just sitting. No one is buying it seems. Many are being pulled off market.
I’m spooked if my house doesn’t sell immediately and then rates get hiked
I never get lucky, we made a move 13 months ago and got a great rate on our house. Not looking at the time, just one of our favorite homes in the area came up for sale and timing just worked out.
I wouldve never bit off a new mortgage at plus 6%.
Posted on 10/3/22 at 12:02 pm to slackster
quote:
No, they don’t.
That was posted yesterday, the emergency meeting is today (going on right now).
Posted on 10/3/22 at 12:13 pm to Bard
It’s not an emergency meeting though.
It’s a typical meeting that they’ve had every 3 weeks in August and September and again today. It’s had the exact same agenda too.
Stop posting about things you simply do not understand.
It’s a typical meeting that they’ve had every 3 weeks in August and September and again today. It’s had the exact same agenda too.
Stop posting about things you simply do not understand.
This post was edited on 10/3/22 at 12:19 pm
Posted on 10/3/22 at 12:34 pm to slackster
quote:
It’s a typical meeting that they’ve had every 3 weeks in August and September and again today.
Except that they didn't post it until last Thursday and it's not on the calendar.
LINK
quote:
Dated: 09/29/2022
quote:
Stop posting about things you simply do not understand.
Stop being wrong and I won't have to continue correcting you.
Posted on 10/3/22 at 12:48 pm to Bard
quote:
Except that they didn't post it until last Thursday and it's not on the calendar.
I clicked on the previous board meetings and the notice appears to go out for each of those on the Thursday before the actual meeting. I don't see any of these board meetings on the calendar either but maybe I am missing something.
Meeting Sept 12
Notice Sept 8
Meeting August 22
Notice August 18
Meeting July 26
Notice July 22
Posted on 10/3/22 at 12:54 pm to Bard
quote:
Stop being wrong and I won't have to continue correcting you
Look at all of these emergency meetings then…
, all the same agendas (except July 2-day meeting). 
Posted on 10/3/22 at 12:55 pm to tigerfoot
quote:
Houses here are just sitting. No one is buying it seems. Many are being pulled off market.
There was already next to zero inventory too. Really rough time to buy a house. Probably even worse time to be in the homebuilding industry.
And sadly I think we actually need to increase inventory in a lot of markets.
I'm so glad we bought a year ago and rented it back to the previous owner instead of trying to buy this summer. We got a great rate and actually have a house that we like. There's nothing else on the market locally that is even remotely comparable right now. I'm sure I paid too much for it though.
This post was edited on 10/3/22 at 1:00 pm
Posted on 10/3/22 at 1:05 pm to bod312
quote:
I clicked on the previous board meetings and the notice appears to go out for each of those on the Thursday before the actual meeting. I don't see any of these board meetings on the calendar either but maybe I am missing something.
A) they have closed, short notice board meetings all the time. They’ve had at least one every month this year.
B) an emergency FOMC meeting is substantially different than a short notice Board of Governors meeting, but that doesn’t get the same attention on Twitter/Reddit/YouTube as trying to call this meeting an emergency Fed meeting.
Posted on 10/3/22 at 1:19 pm to slackster
quote:
, all the same agendas (except July 2-day meeting).
Again, not posted until last Thursday. It's hard for a Fed meeting to be considered "planned" when it's called just days ahead of time.
Take the L and move on.
Posted on 10/3/22 at 1:21 pm to dewster
quote:I did too.
I'm sure I paid too much for it though.
I say that but w building costs the way they were I couldn’t have built it for what I paid
Posted on 10/3/22 at 1:22 pm to bod312
quote:
I clicked on the previous board meetings and the notice appears to go out for each of those on the Thursday before the actual meeting. I don't see any of these board meetings on the calendar either but maybe I am missing something.
Meeting Sept 12
Notice Sept 8
Meeting August 22
Notice August 18
Meeting July 26
Notice July 22
Almost like they are unplanned and called quickly because of serious problems with the economy, eh?
Posted on 10/3/22 at 1:24 pm to dewster
quote:
I'm so glad we bought a year ago and rented it back to the previous owner instead of trying to buy this summer. We got a great rate and actually have a house that we like. There's nothing else on the market locally that is even remotely comparable right now. I'm sure I paid too much for it though.
Nobody wants to sell their house and their 2.5% mortgage to jump into a 7% one. Typically when rates go up it's more gradual. Interesting times.
Posted on 10/3/22 at 2:58 pm to Bard
quote:
Almost like they are unplanned and called quickly because of serious problems with the economy, eh?
give it up. There were 30 closed, unscheduled Fed board of governors meetings in 2019.
Educate yourself. Seriously. You know just enough to be dangerous.
Posted on 10/4/22 at 11:16 am to PotatoChip
The Fed has spoiled a generation with these historically low rates...the last I generated about 15 years ago was 6.25 and I was very pleased. Previously at @ 8.
Posted on 10/4/22 at 11:39 am to SalE
quote:
The Fed has spoiled a generation with these historically low rates...the last I generated about 15 years ago was 6.25 and I was very pleased. Previously at @ 8.
Don't sound like an old man or anything
It should really boil down to both interest rate and housing costs because at the end of the day, it's how the mortgage lines up with the average salary in a given area and across the country. I wouldn't care about 18 percent interest rates if my house cost 50k. I wouldn't care if my house cost 300k if my interest rate was 1 percent. I get what you mean, but it's cherry picking information that's different then than now. The average mortgage price is rising above the average salary, which is a problem and why we should see a decent decline in housing prices if the rates don't change.Posted on 10/4/22 at 12:13 pm to SalE
I'm fine with that if we get the same housing prices as 15 years ago. Can't have one without the other and compare.
Posted on 10/4/22 at 1:54 pm to TheNolaClap
Getting quoted for 6.625% today
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