- 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: Average interest rate on 30 year mortgage rises to 7.59%, highest since December 2000
Posted on 9/21/23 at 8:48 pm to PrecedentedTimes
Posted on 9/21/23 at 8:48 pm to PrecedentedTimes
Jesus, you make yourself and your argument look dumber and dumber as you go on.
0
Posted on 9/21/23 at 8:51 pm to Yaboylsu63
quote:
genuinely have no idea how people are buying homes right now.
Same way we did it in post-9/11 2001/2002.
Posted on 9/21/23 at 8:51 pm to Veritas
I’ve been looking to buy, but I’m not willing to overpay in this market with these rates. I’d love to own and build equity, but it’s hard to justify right now.
At this point with the uncertainty in the market right now and elections coming up in 12 months, I’d rather wait it out. Nothing this current administration does gives me economic confidence.
At this point with the uncertainty in the market right now and elections coming up in 12 months, I’d rather wait it out. Nothing this current administration does gives me economic confidence.
Posted on 9/21/23 at 8:53 pm to stout
What is nuts is my escrow increased the mortgage 50% due to insurance alone.
God forbid if I built new in my neighborhood, who knows what that would cost. Thankfully flood can only go up so much every year.
God forbid if I built new in my neighborhood, who knows what that would cost. Thankfully flood can only go up so much every year.
Posted on 9/21/23 at 8:54 pm to Sao
quote:
Same way we did it in post-9/11 2001/2002.
Good times. I was a young Realtor and newly minted spec home builder/contractor then and remember 2003/04 was when the market really started to gain steam and for 3'ish years it was insanity. You could not have a pulse and get a mortgage at 110% LTV.
Posted on 9/21/23 at 8:55 pm to stout
If treasuries are paying 5% or so, is anyone surprised?
Posted on 9/21/23 at 8:56 pm to stout
Is this the thread people say their current interest rates (2.9) and when they purchased (2018)?
Posted on 9/21/23 at 8:58 pm to Ric Flair
quote:
If treasuries are paying 5% or so, is anyone surprised?
The fact that the Fed paused rates yet lending rates are still going up is concerning.
I read a pretty good explanation as to why.
quote:
Rates continue to rise despite a rate pause due to record levels of Treasury Bonds
10-year note yield rises as high as 4.37%, the highest since 2007.
Rates continue to rise despite a Fed rate pause expected.
Why?
The US is issuing record levels of Treasury Bonds to fund deficit spending.
There is so much supply that it is driving bond prices lower and treasury yields higher.
Between this quarter and the next, $1.9 trillion in US Treasury bonds will be issued.
We are paying for deficit spending in many ways.
Higher interest rates is one of them.
LINK
Posted on 9/21/23 at 8:59 pm to UnrealMFer
quote:
I genuinely have no idea how people are buying homes right now.
They aren't. Blackrock is.
Wrong. Blackrock and others did in 2020, 2021, and 2022 and in giants numbers. They are out of the game today for the most part.
This post was edited on 9/21/23 at 9:03 pm
Posted on 9/21/23 at 9:01 pm to stout
As per the BR MLS
There are currently 658 houses pending to close
Ie under contract to purchase
Thats a long way from a dead market
Of these pendings, avg price is $340,000 so many of these are first timers, getting a mortgage. So yea sales are happnin
FYI
The highest pending is one for $7.9 mill on
Moss Side lane
There are currently 658 houses pending to close
Ie under contract to purchase
Thats a long way from a dead market
Of these pendings, avg price is $340,000 so many of these are first timers, getting a mortgage. So yea sales are happnin
FYI
The highest pending is one for $7.9 mill on
Moss Side lane
Posted on 9/21/23 at 9:01 pm to stout
If you want a real gut punch and how lenders view the market and future market, look at adjustable rates.
Posted on 9/21/23 at 9:02 pm to Billy Blanks
quote:
They are out of the game today for the most part.
This is from an email I got this week from a small hedg fund
quote:
...and we buy homes across the country to repair and lease to our residents, and then manage them thereafter. Currently, we own about 4,000 properties across the country and plan to grow to around 10,000 by the end of 2026.
Blackrock might be out but they have shown the model to other hedge funds to follow.
Posted on 9/21/23 at 9:03 pm to stout
I would live in a trailer before I bought a home in this market.
I'd also like to send a big frick You to the Fed for screwing over all the first time homebuyers.
I'd also like to send a big frick You to the Fed for screwing over all the first time homebuyers.
Posted on 9/21/23 at 9:03 pm to stout
quote:
Which will wipe out a lot of equity people have built up.
Not happening
Posted on 9/21/23 at 9:03 pm to stout
Anyone sitting on an Adjustable Rate Mortgage right now has to be shifting kittens.
Posted on 9/21/23 at 9:08 pm to stout
There also isn’t a direct correlation to long term rates and short term rates.
Posted on 9/21/23 at 9:09 pm to nola tiger lsu
quote:
Not happening
You think if we see a stagnant market it will not reduce equity?
This post was edited on 9/21/23 at 9:11 pm
Posted on 9/21/23 at 9:09 pm to Buryl
quote:
I'd also like to send a big frick You to the Fed for screwing over all the first time homebuyers.
Not exactly all their fault. Lots of parties to blame on both sides of the aisle.
Posted on 9/21/23 at 9:11 pm to SlowFlowPro
You do know that circulation of currency has been increasing every year for the past 20 years, yeah? Those printers don’t stop.
Posted on 9/21/23 at 9:13 pm to stout
Y'all ain't seen nothing yet.
Home mortgage rates averaged about 8.85% at the onset of the Carter administration in 1977. However, by the end of Carter's presidency in 1981, home mortgage rates averaged a whopping 16.64%.
Home mortgage rates averaged about 8.85% at the onset of the Carter administration in 1977. However, by the end of Carter's presidency in 1981, home mortgage rates averaged a whopping 16.64%.
Page 3 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News