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Posted on 10/19/22 at 9:35 am to stout
Damn, I locked in at more than half that right before the pandemic
Posted on 10/19/22 at 9:36 am to idlewatcher
quote:
He literally was trying to put section 8 housing in the middle of uber affluent areas.
All of this is part of a bigger plan. They are trying to mix out red areas. They are at war with the middle class independent patriotic Americans.
Posted on 10/19/22 at 9:40 am to theRealJesseD
Just remember what high rates due to our gov huge deficit
Three month T-Bills now trading in the 4.17% range.
Street stat :
Every 100bp increase on interest rates = $230bln increase in annual interest costs to federal govt
Three month T-Bills now trading in the 4.17% range.
Street stat :
Every 100bp increase on interest rates = $230bln increase in annual interest costs to federal govt
Posted on 10/19/22 at 9:42 am to KAGTASTIC
quote:
Not sure who you quoted for the above response
Not a quote its a fact
quote:
but wondering something...what rate are mortgage providers paying now compared to a year/6 months ago?
Rates have doubled from a year ago. Maybe 1% more from 6mnths ago with the inflation report caused rates to spike. Rates dropped big over the summer when the fed hiked rates .75. Then 2 big inflation reports caused then to spike again
Oct report is going to be the one to look at
Posted on 10/19/22 at 9:47 am to SDVTiger
You're seriously a fricking liberal cuck.
Posted on 10/19/22 at 9:48 am to DarthRebel
My house in 1993 was 8%
Posted on 10/19/22 at 9:49 am to SDVTiger
quote:
Not to mention Fannie Mae predicts 4.3% rates
Same Fannie Mae that fricked us in the mid 2000’s? And we had to bail out to the tune of 116 Billion taxpayer dollars?
Posted on 10/19/22 at 9:56 am to CleverUserName
quote:
You're seriously a fricking liberal cuck
What the frick are you talking about
quote:
Same Fannie Mae that fricked us in the mid 2000’s? And we had to bail out to the tune of 116 Billion taxpayer dollars?
Maybe. Not sure why you are so angry that im providing a reason why rates will drop
Posted on 10/19/22 at 9:57 am to Aubie Spr96
quote:Most people don't realize that historically in order for the Fed to use the fed funds rate as a policy prescription, the Fed has to raise their rates to roughly 2% ABOVE the rate of inflation. Otherwise raising the Fed rate doesn't work to tame inflation.
Interest rates were NEVER supposed to be ZERO forever. It was bad policy that we had to pay for at some point. We have an entire generation that has no idea what the net present value of money is because interest rates were non-existent.
So, assuming the above, and the rate of inflation at 8.3%... 10+% Fed funds rate? I know the projections are for 4.25%-4.50%, but that shite don't work historically. Further, if the Fed funds rate is at 10+%, where are mortgage rates going to be?
Keep in mind USD hegemony has to be protected at all costs, so inflation has to be tamed. I don't know of many other policy prescriptions other than shrink the Fed balance sheet. The Fed rate is designed to slow money velocity and retracts USD in circulation. Anything else? I'm no econometrics nerd so I'm swimming in deep water.
This post was edited on 10/19/22 at 9:59 am
Posted on 10/19/22 at 10:07 am to alpinetiger
quote:
Keep in mind USD hegemony has to be protected at all costs, so inflation has to be tamed. I don't know of many other policy prescriptions other than shrink the Fed balance sheet. The Fed rate is designed to slow money velocity and retracts USD in circulation. Anything else? I'm no econometrics nerd so I'm swimming in deep water.
Walk it forward into 2023 and you'll see how Powell raising like a bat of hell now (something you don't often see in a mid-term year) appears to be setting the stage for major unemployment in 2023/2024. That's when the real shite hits the fan, Carter type stagflation on steroids.
Posted on 10/19/22 at 10:08 am to La Place Mike
quote:
Not excusing Biden of anything but when I first started in the Mortgage business many years ago that rate was low.
I remember refinancing to get to like 6.85 and the mortgage folks said “you are smart, rates will never be this low again”
Posted on 10/19/22 at 10:10 am to SDVTiger
quote:
Maybe. Not sure why you are so angry that im providing a reason why rates will drop
Inflation will not be contained in Q1. I will bet you anything on that. There is no way rates are below 5% as you are predicting.
FYI, earlier this year Fannie predicted rates would drop in Q4 of this year and the opposite happened.
Posted on 10/19/22 at 10:15 am to stout
It’s gonna hurt if I have to move. Got in at 2.5 a couple of years ago.
Posted on 10/19/22 at 10:17 am to stout
quote:
I don't think the hikes would be as severe under Trump. I have long said that rates need to go up but the pace of the hikes is unprecedented.
The problem is that rates have been rock bottom for the past decade, if anything, both Obama's and Trump's feds should've started raising rates a few years ago.
Posted on 10/19/22 at 10:17 am to stout
quote:
Inflation will not be contained in Q1. I will bet you anything on that. There is no way rates are below 5% as you are predicting.
I agree
But if Oct is a better number than the insane one from last Oct then it will seem that it is
2 more Fed hikes as well
Lacy Hunt was talking about this
This post was edited on 10/19/22 at 10:20 am
Posted on 10/19/22 at 10:19 am to stout
quote:
Biden has now killed the real estate market as well.
You know this is not true, so why are you saying it?
Biden did not cause inflation and he does not control interest rates.
The guy is a vegetable, but if you think he has anything to do with this real estate market your IQ is even lower than I had originally thought.
Posted on 10/19/22 at 10:23 am to bayoudude
quote:
But yet cd rates are barely 2%. In the early 2000’s when home mortgages were in the mid to upper 6% range a one year cd was paying 4.75%
I broker 9 month cds at 4.318 ytw right now
Posted on 10/19/22 at 10:25 am to I Love Bama
quote:
Biden did not cause inflation
Potato's very first day in office begs to differ. There's no way you can be that ignorant to energy policy.
Posted on 10/19/22 at 10:25 am to I Love Bama
quote:
Biden did not cause inflation
I mean cmon man
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