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Started By
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re: 30-year fixed-rate mortgages reach 7.15%
Posted on 10/19/22 at 10:26 am to Tomatocantender
Posted on 10/19/22 at 10:26 am to Tomatocantender
quote:
There's no way you can be that ignorant to energy policy.
Right. It had nothing to do with all the free/fake money we pumped into the economy when the Covid BS started.
RIIIIIIIGHT
Where was inflation when OIL was pushing $100 a barrel in 2014?
This post was edited on 10/19/22 at 10:28 am
1
Posted on 10/19/22 at 10:27 am to El Magnifico
quote:
I broker 9 month cds at 4.318 ytw right now
I believe it, especially the callable variety could be close to 5. Hell, Ally is paying 2.25 apy and an additional 1% bonus on savings accounts.
Posted on 10/19/22 at 10:31 am to SDVTiger
Why are we not using our brain here? Why are you guys making me take up for this POS?
Who was president when the helicopter money train started?
It sure as frick wasn't Biden. He hasn't helped, but this happened under Trump and even he is not to blame.
Who was president when the helicopter money train started?
It sure as frick wasn't Biden. He hasn't helped, but this happened under Trump and even he is not to blame.
Posted on 10/19/22 at 10:31 am to I Love Bama
quote:
Right. It had nothing to do with all the free/fake money we pumped into the economy when the Covid BS started.
I had a feeling you would play that worn out card. That had absolutely nothing to do with giving up energy independence on Day 1 of Potato's tenure and sending a signal to the energy sector that investable money was dead money. Like I said, you can't be that ignorant.
Posted on 10/19/22 at 10:34 am to stout
Not sure about the rest of the country, but the demand for housing in Texas is still really good. Boatloads of people from the East and West coast are still coming in.
If you put your home on the market today it will still get a contract. The days on market will be a bit longer than the crazy period last year, but it will sell.
Prices have dropped a bit, but still higher than pre-covid. People are still making a nice chuck of money. Equity is still there.
If you put your home on the market today it will still get a contract. The days on market will be a bit longer than the crazy period last year, but it will sell.
Prices have dropped a bit, but still higher than pre-covid. People are still making a nice chuck of money. Equity is still there.
Posted on 10/19/22 at 10:35 am to Tomatocantender
quote:
Like I said, you can't be that ignorant.
Since you are so much smarter, please tell me where inflation was in 2013/2014 when Oil was 20% higher than it is now.
I will wait.
Posted on 10/19/22 at 10:43 am to I Love Bama
quote:
please tell me where inflation was in 2013/2014 when Oil was 20% higher than it is now.
So you want to go back to Obama's admin? This time period you're referencing above would have been in Barrack's 2nd term. We had a period of 8 years under Obama with no interest rate hikes that I recall, especially after recovering from the TARP bailout of 08/09. In 13/14 as you reference above, I don't ever recall Obama issuing an all-out war on the energy sector and pissing off OPEC+ to the degree that Biden did on his very first day in office. This would have also been the timeframe (2012 to 2014) where Bernanke made up the word "transitory" in an FOMC meeting. I never recall Bernanke ever having to hawkishly raise interest rates under Obama to control runaway inflation. It simply never happened in 8 years under Obama. So what's your gotcha point with this 2013/2014 timeframe you're citing above? Don't get cute, we're having an adult conversation so please just respond back in kind. I'll wait.
Posted on 10/19/22 at 10:47 am to Tomatocantender
quote:
We had a period of 8 years under Obama with no interest rate hikes that I recall, especially after recovering from the TARP bailout of 08/09.
So why no inflation?
quote:
I don't ever recall Obama issuing an all-out war on the energy sector and pissing off OPEC+
So Biden said mean words about OPEC and the Oil price is now the same price as it was 10 YEARS AGO. Wow. OMG. Yes, BIDEN DID IT!
You are trying, so I will give you a few points for that. But you aren't ready for the prime time yet.
Posted on 10/19/22 at 10:48 am to stout
Just curious. At what point do we start throwing hands?
Posted on 10/19/22 at 10:50 am to I Love Bama
quote:
You are trying, so I will give you a few points for that. But you aren't ready for the prime time yet.
I was wrong. You really are that ignorant.
Posted on 10/19/22 at 11:01 am to SDVTiger
quote:
You're seriously a fricking liberal cuck
quote:
What the frick are you talking about
The first time I’ve ever encountered a topic where SDV has the ability to discuss it with substance and he gets the same brain dead idiotic response that he is usually offering up.
You hate to see it.
Posted on 10/19/22 at 11:04 am to stout
Really? Interest rates were stupid low for 10 plus years. 7% while high in comparison is what rates were in the mid to late 90s.
Federal Reserve is trying to choke off inflation by making it more expensive to borrow. It's what Volcker did in the late 70s early 80s....and it worked.
The entitlement....you kinda remind me if a Democrat.
Federal Reserve is trying to choke off inflation by making it more expensive to borrow. It's what Volcker did in the late 70s early 80s....and it worked.
The entitlement....you kinda remind me if a Democrat.
Posted on 10/19/22 at 11:14 am to riccoar
quote:
Glad I locked in at 2.25%
Hope you plan on keeping your home for the duration of the loan and you don't expect a 3-4 % annual appreciation in value. You are never seeing that kind of rate again
Posted on 10/19/22 at 11:45 am to KiwiHead
quote:
Federal Reserve is trying to choke off inflation by making it more expensive to borrow. It's what Volcker did in the late 70s early 80s....and it worked.
When Volcker/Reagan embarked on this successful plan, were they raiding the strategic petroleum reserves of our country? Were they implementing an all-or-nothing clown alternate energy policy while being reliant on foreign countries? Did they shut down oil leases and created red tape en masse? Or would you say that the adults were in charge back then (circa '81) and actually had an exit strategy and method to their madness for why we had to raise rates coming out of the Carter stagflation years?
Posted on 10/19/22 at 11:51 am to stout
have you seen jumbo loans over 2 Million purchase price?
almost 10K monthly with 30 yr fixed and 20% down.
This may finally really correct California real estate market
almost 10K monthly with 30 yr fixed and 20% down.
This may finally really correct California real estate market
Posted on 10/19/22 at 12:03 pm to stout
quote:Come on, man. There's plenty of criticism for the utterly inept shite coming from the White House, but this is over the top. Re those 401Ks, the original complaint on here was the vast sugar high in stocks due to the absurd over-spending on covid "stimulus". So when those stocks come down to more reasonable levels, that's now bad? And the same thing happen in houses. It's true - if people stretched to buy clearly over-priced housing, then they likely will lose some equity. But again - would you rather have more reasonably priced assetse or bubble assets that only the more affluent can buy?
Biden has now killed the real estate market as well. Equity is being wiped out so you not only lose real money from your 401K but now you also lose net worth from depreciating prices.
The attack on individual homeownership will only get worse. Everything this administration does is on purpose and it's part of their plan.
Remember how Obama tried to kill values by making every new development set aside a portion for low-income housing?
I am 100% Democrats do not want you to use your home as a wealth-building tool so you will be less independent.
quote:Very very clearly, lower (i.e. more reasonable) home prices makes home ownership a plausible reality than ultra high prices driven by ultra cheap rates.
The attack on individual homeownership will only get worse.
Posted on 10/19/22 at 12:51 pm to Tomatocantender
What does the energy policy have to do with the fact that we placed way too much money in circulation and the requisite supply of goods and services was not there to support. Gasine prices were high in 2014 and I did not see inflation....shite. no one hardly bitched. But now oil prices are so integral that of course, the added cost spurs inflation? If true then our economy has severe structural weaknesses.
Truth be told, Volcker embarked on his interest rate spikes in 1979 to tame inflation. His exit strategy was to see if inflation would start trending down and the savings rate would start going up. I suspect that is what Powell wants to do, now will Americans actually do it? Will you be so desperate to get that new pick up or SUv and that new house, or are you willing to wait and delay your gratification. Are you willing to wager that you buy a house at 7.2% and then a time will come when you see that a 6.2 % or better rate allows you to effectively refinance?
This bout of inflation has been a long time coming. We have long been writing checks on an NSF account and no one wanted to change their spending habits. Neither Democrats or Republicans. Now the bank has increased our overdraft fees
Truth be told, Volcker embarked on his interest rate spikes in 1979 to tame inflation. His exit strategy was to see if inflation would start trending down and the savings rate would start going up. I suspect that is what Powell wants to do, now will Americans actually do it? Will you be so desperate to get that new pick up or SUv and that new house, or are you willing to wait and delay your gratification. Are you willing to wager that you buy a house at 7.2% and then a time will come when you see that a 6.2 % or better rate allows you to effectively refinance?
This bout of inflation has been a long time coming. We have long been writing checks on an NSF account and no one wanted to change their spending habits. Neither Democrats or Republicans. Now the bank has increased our overdraft fees
Posted on 10/19/22 at 1:08 pm to KiwiHead
quote:
What does the energy policy have to do with the fact that we placed way too much money in circulation and the requisite supply of goods and services was not there to support. Gasine prices were high in 2014 and I did not see inflation.... shite. no one hardly bitched. But now oil prices are so integral that of course, the added cost spurs inflation? If true then our economy has severe structural weaknesses.
I'm going to try and put this in terms that even a 12-year old will understand: Potato's 1st day in office sent a message that America's lifeblood commodity is no longer an investable asset. It will be replaced by alternate and renewable energy. NO OTHER PRESIDENT INCLUDING BARRACK has ever used this as a mission statement from Day 1. It started the ball rolling downhill too fast with runaway inflation because the futures market indicators were so bleak. How does someone not understand this very simple concept that was right in front of your eyes. It's not like this happened 20 years ago, WE"RE LIVING IT NOW with the ripple effects. Jesus H Christ, the slowness in people is mind boggling.
Posted on 10/19/22 at 1:21 pm to stout
Will touch 8% before EOY. 400k house with 20% down at 8% is $2500/mo P&I only.
#nevermoving
#nevermoving
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