- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Why did mortgage rates increase today?
Posted on 10/9/08 at 2:35 pm to MikeBRLA
Posted on 10/9/08 at 2:35 pm to MikeBRLA
quote:
You admit that there is rental property available
It's a rural area, would you like to move your family into a mobile home? That's the only rentals available. I didn't intend to start a discussion on whether or not this is the right time to buy, I intended to spark some thought on what the mortgage rates may do in the next couple of months. I do appreciate the input though.
3
Posted on 10/9/08 at 2:37 pm to FUBAR
quote:
It's a rural area, would you like to move your family into a mobile home?
Only if I could BUY it!
quote:
I intended to spark some thought on what the mortgage rates may do in the next couple of months.
You need to realize that these price movements in interest rates are inherently unpredictable. All I can personally say is that I have a hard time believing it's going to remain "cheap" for the average American to access the credit markets.
Posted on 10/9/08 at 2:37 pm to FUBAR
interest rates are going up for the next few months. The Treasury department has to fund an extra trillion and a half worth of bailout spending, which will ultimately drive long term interest rates higher.
Posted on 10/9/08 at 2:38 pm to Tiger JJ
quote:
I'm willing to go out on a limb without even knowing the area and say that there is no chance that this is true.
I can't imagine there are any areas in the country, right now, where you couldn't make an offer to rent literally ANY property currently for sale, and be taken up on the offer, with really favorable terms.
It definitely seems to be true where I live, and this is supposed to be somewhere that's not being hit "too hard" by all this crap (relatively speaking, I suppose).
Posted on 10/9/08 at 2:41 pm to Y.A. Tittle
Well, he said it was rural. Seems like that probably would make it at least marginally harder to rent.
Posted on 10/9/08 at 2:46 pm to Tiger JJ
quote:
You need to realize that these price movements in interest rates are inherently unpredictable.
I know, I was venting more than anything with my original post but I hoped to get an educated opinion as well.
quote:
All I can personally say is that I have a hard time believing it's going to remain "cheap" for the average American to access the credit markets.
I agree
Posted on 10/9/08 at 2:48 pm to Tiger JJ
quote:
Seems like that probably would make it at least marginally harder to rent.
Yeah, possibly. But he's saying the only "adequate" property is currently on the market for sale.
Even if this is true. I'm saying he could offer to rent, or even present some sort of rent-to-own proposal (which I hear is becoming increasingly more prevalent) on at least 75% of those properties, and likely be taken up on the offer.
Posted on 10/9/08 at 2:58 pm to Y.A. Tittle
quote:
Even if this is true. I'm saying he could offer to rent, or even present some sort of rent-to-own proposal (which I hear is becoming increasingly more prevalent) on at least 75% of those properties, and likely be taken up on the offer.
I'll look into a rent to own option, although I'm already in a purchase contract. Renting isn't that great an option either, a growing recent problem is renters being evicted because of foreclosure on the owner. I'll just watch the rates, I could afford the mortgage at the current rates but I'm just too stingy to pay more than I think I should. If the rates climb above 6.8, I'm out of the contract.
This post was edited on 10/9/08 at 3:01 pm
Posted on 10/9/08 at 3:02 pm to FUBAR
quote:
It's a rural area, would you like to move your family into a mobile home?
Key word there is like. You said you have to buy, which isn't true. You'd like to buy a house to keep from having to move your family into a mobile home.
And to answer your question, yes my family has lived in a mobile home during hard times. During those hard time we did what we had to, not what we liked to do. Because of these sacrifices my family has millions in liquid assets right now.
It baffles me that you are asking financial questions (getting good advice from people good with money), and absolutely rejecting their advice.
Posted on 10/9/08 at 3:07 pm to MikeBRLA
quote:
Key word there is like. You said you have to buy, which isn't true. You'd like to buy a house to keep from having to move your family into a mobile home.
And to answer your question, yes my family has lived in a mobile home during hard times. During those hard time we did what we had to, not what we liked to do. Because of these sacrifices my family has millions in liquid assets right now.
It baffles me that you are asking financial questions (getting good advice from people good with money), and absolutely rejecting their advice.
Again, I was not looking for advice on whether or not I should buy right now, I was looking for a discussion on mortgage rates (which is not my area of expertise). I do sincerely appreciate your concern for my future though, I really do (without any sarcasm).
I have to get on the road now. Thanks to all
Posted on 10/9/08 at 3:17 pm to FUBAR
quote:
Renting isn't that great an option either, a growing recent problem is renters being evicted because of foreclosure on the owner.
That is true, but it also means the banks will be looking to have someone take over and maintain the properties. If you honestly believe that's a problem where you are heading, then you should get a list of foreclosures/delinquencies if you can and approach the people who own the loans and tell them you will buy it from them at a big discount. Point being, there's no reason you should be willing to pay 100% of asking prices.
Posted on 10/9/08 at 3:55 pm to FUBAR
mortgage rates are kind of a funny thing. rates are low and keep going lower when there are people applying and getting approved. when there are fewer people applying, rates move up. it is so banks will keep their cash flow at a rather steady rate.(way it was explained to me, seems to make sense)
Posted on 10/9/08 at 3:59 pm to crazycajun08
quote:
(way it was explained to me, seems to make sense)
Pretend you sell apples at a roadside fruit stand. You usually sell 100 apples a day. Suddenly, people stop buying apples and you're only selling 80 apples a day. Would you raise the prices on your apples?
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News