- 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: Will mortgage rate ever go back down?
Posted on 5/31/23 at 8:30 am to TackySweater
Posted on 5/31/23 at 8:30 am to TackySweater
Yes. Eventually.
But I wouldn’t hold your breath for a return to 3% fixed. You might see it again but also may be too old to take advantage. That’s probably a ways off.
5-8% is probably the range we’ll stick with for a while.
But I wouldn’t hold your breath for a return to 3% fixed. You might see it again but also may be too old to take advantage. That’s probably a ways off.
5-8% is probably the range we’ll stick with for a while.
This post was edited on 5/31/23 at 8:44 am
0
Posted on 5/31/23 at 10:08 am to TackySweater
Dallas Ft. Worth just saw its first price decline since 2013. Yet people continue to move there en masse.
It’s local as always, but cooling.
It’s local as always, but cooling.
Posted on 5/31/23 at 11:46 am to TackySweater
After years of the fed artitifically impacting rates to be lower, they are now artificially impacting rates to be higher. I think eventually, this will moderate and rates will come down to around 5-6. I don't know if the fed has the capacity to artificially lower then back to 2-3 again anytime soon.
Prices won't come down until people can no longer get a mortgage. And at that point, you will see large corporate buyers step in and buy more property, keeping prices high.
Sakes of new construction in my area have frozen. There's a lot of money tied up in those houses... they were expensive to build. But the builders aren't lowering prices. I guess they have the cash to float them for now.
Prices won't come down until people can no longer get a mortgage. And at that point, you will see large corporate buyers step in and buy more property, keeping prices high.
Sakes of new construction in my area have frozen. There's a lot of money tied up in those houses... they were expensive to build. But the builders aren't lowering prices. I guess they have the cash to float them for now.
Posted on 5/31/23 at 11:55 am to LSUFanHouston
quote:
Prices won't come down until people can no longer get a mortgage
But instead of letting things regulate themselves, 40 year mortgages will now be a thing.
I think there is a ton of pent up demand for people who would move up, but aren't willing to give up their good rates AND pay 50% more just to move into the same basic house they already have....Its pretty wild right now.
Posted on 5/31/23 at 12:01 pm to TackySweater
I bought my first house in 1982 or 1983 I believe. The interest rate was 12%.
The house was a new 3 bedroom, 2 bath in south LC. Nothing fancy, basic with a 2 car garage for $54,000
The house was a new 3 bedroom, 2 bath in south LC. Nothing fancy, basic with a 2 car garage for $54,000
Posted on 5/31/23 at 12:02 pm to TejasHorn
quote:
Dallas Ft. Worth just saw its first price decline since 2013
A smidgeon. Most areas are still incredibly strong.
I should have bought a house I couldn't afford back in May 2022 at 3.8%.
Getting into our next house size up is going to be a disaster. The only way its doable is if the market tanks and that will screw me on selling my current house.
Wild world we're living in.
Posted on 5/31/23 at 12:06 pm to TigerFanatic99
quote:
They will come down after the crash.
How will that happen?
Nearly 70% of the country either owns their home out right or has greater than 50% equity.
Posted on 5/31/23 at 12:08 pm to AUjim
quote:
I think there is a ton of pent up demand for people who would move up, but aren't willing to give up their good rates AND pay 50% more just to move into the same basic house they already have....Its pretty wild right now.
I'm one of them. I paid $170K 8 years ago and have refinanced into a sub-3 rate. I owe about $100K now. I could easily sell for $300K net of costs and walk away with $200K cash.
But any house I would want to move up into, would cost at least $400K, so I'd be borrowing at least $200K, at double (or more) the rate.
So I'm staying put.
Posted on 5/31/23 at 12:10 pm to REB BEER
quote:
People in the 70's and 80's would have loved to refinance to current rates.
My dad loves to tell me how his interest rate was 18% when my parents built in 1983.
Posted on 5/31/23 at 12:11 pm to mule74
quote:
My dad loves to tell me how his interest rate was 18% when my parents built in 1983.
And leave out the fact that the house cost $60K to buld.
Posted on 5/31/23 at 1:34 pm to TackySweater
quote:
It seems like now isn’t the time to buy, but maybe it is.
The beautiful thing about debt is you can always refinance it, so you have downside protection by having a fixed rate, and upside benefit.
Waiting for rates to go down is a dangerous game, you could be stuck waiting forever.
Posted on 5/31/23 at 1:45 pm to LSUFanHouston
quote:
quote:
My dad loves to tell me how his interest rate was 18% when my parents built in 1983.
And leave out the fact that the house cost $60K to buld.
On a gross income of $323/week.
This post was edited on 5/31/23 at 1:46 pm
Posted on 5/31/23 at 4:25 pm to LSUFanHouston
You’d think the very last two states to see any dip in prices would be Texas and Florida with the sheer number of people moving there daily it seems inventory won’t be catching up any time soon.
Posted on 5/31/23 at 5:41 pm to Paul Allen
quote:
You’d think the very last two states to see any dip in prices would be Texas and Florida with the sheer number of people moving there daily it seems inventory won’t be catching up any time soon.
Agree not seeing any dips in this area of Fl.
Posted on 6/1/23 at 6:43 am to TackySweater
saw someone on twitter say part of the Debt ceiling deal was to lock in current interest rates through 2025
Posted on 6/1/23 at 6:58 am to Pezzo
Haven't heard that
Posted on 6/1/23 at 8:15 am to Billy Blanks
quote:
Nearly 70% of the country either owns their home out right or has greater than 50% equity.
Where are you pulling these numbers from?
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News