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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 7:26 pm to Tomatocantender
Posted on 10/19/22 at 7:26 pm to Tomatocantender
quote:Actually, it made it seem like you were trying to pretend you knew/understood more than you actually do. Jury is still out.
Okay nerd. Hopefully you're okay with the other 99.9% of my post, you know, the actual context/gist/point of it.
0
Posted on 10/19/22 at 7:28 pm to Powerman
quote:There is certainly no shortage of disingenuousness and hypocrisy.
It should be noted that people were also complaining when the values of houses were sky rocketing
Now they're complaining that they're going back down
They very idea that homes getting cheaper is "intentionally anti-home-ownership" is utterly absurd.
Posted on 10/19/22 at 7:33 pm to I Love Bama
quote:I mean, he yelled at the fed when they wanted to raise rates.
but this happened under Trump and even he is not to blame.
Posted on 10/19/22 at 7:36 pm to NC_Tigah
quote:Just like we do with the global warming stuff, I'll ask: what's the right rate?
30-year fixed-rate mortgages reach 7.15%
7.25%
Posted on 10/19/22 at 7:45 pm to stout
A $250,000 loan at 2.5% is equal in monthly payments as a $150,000 loan at 7.25% at ~$1,000 per month.
Posted on 10/19/22 at 8:16 pm to stout
Biden is the worst President in modern history.
He’s not even American. He’s a globalist trying to destroy wealth.
2 years ago, gas was under $2, interest rates were under 3%, 401ks were soaring.
Biden is absolutely anti-American and trying to hurt us.
He’s not even American. He’s a globalist trying to destroy wealth.
2 years ago, gas was under $2, interest rates were under 3%, 401ks were soaring.
Biden is absolutely anti-American and trying to hurt us.
Posted on 10/19/22 at 8:21 pm to Big Scrub TX
quote:For loan rates as well as global warming temps we can safely say the "right" rate/number is something FAR less than a 3-fold increase over 12-months.
Just like we do with the global warming stuff, I'll ask: what's the right rate?
Posted on 10/19/22 at 8:23 pm to Big Scrub TX
quote:
Just like we do with the global warming stuff, I'll ask: what's the right rate?
Look, I'll agree that we had rates that were probably too low and caused a very speculative market, but 7%+ is encroaching on unsecured loan territory.
Posted on 10/19/22 at 8:27 pm to ItNeverRains
quote:
We’d be astronomically better
How?
quote:
But you’ll still vote Democrat
Oh. Sorry. You're a Kige.
Posted on 10/19/22 at 9:30 pm to stout
quote:
7.15%
pretty average for my adult experience
Posted on 10/19/22 at 9:43 pm to East Coast Band
quote:
$250,000 loan at 2.5% is equal in monthly payments as a $150,000 loan at 7.25% at ~$1,000 per month.
And 2.5 percent interest rates caused homes in many markets to go up 100k or more in a single year
So I guess it evens out if the prices crash. And honestly I hope they do.
Posted on 10/19/22 at 10:06 pm to Powerman
One thing no one has mentioned is that lower home values plus higher interest rates means that for the same amount of payment each month, the lender gets more of the pie. High home prices and low rates mean that more of the money spent is going to individuals who then spend it in the economy. This is a squeeze and the lenders are going to reap the windfalls.
Posted on 10/19/22 at 10:26 pm to stout
I'm so glad I went cash with my IRA in may. I wish I had done it sooner.
Posted on 10/19/22 at 10:28 pm to KiwiHead
quote:
So you think rates in the 3% range was sustainable? Even with Trump?
High 3s yes it would have been if we didnt have 40yr inflation highs
Posted on 10/19/22 at 11:44 pm to jonnyanony
quote:Only when seen through the prism of the past 10-15 years. As recently as 2000 they were over 8%.
but 7%+ is encroaching on unsecured loan territory.
It's funny how people seem to hate inflation...unless it's their house that's inflating.
Posted on 10/20/22 at 1:40 am to stout
Just as I'm selling my house. Perfect.
Posted on 10/20/22 at 3:30 am to SDVTiger
quote:inflation, the economy, employment AND Fed policy ALL affect mortgage rates. The fed funds rate is the benchmark at which banks borrow and lend money and any increase is passed directly to consumers.
Feds dont move Mortgage Rates inflation does
And all these comparisons to 1980 fail to include the national debt that must be serviced at higher rates.
1980 - Debt $980B 32% debt to GDP
2022 - Debt $30T 123% debt to GDP
Comparing todays interest rates to the 1980s is apples to hand grenades
Posted on 10/20/22 at 3:34 am to OU Guy
quote:correcton: debt not deficit. the elephant in the room that these "muh 15% in 1980" folks are ignoring
Just remember what high rates due to our gov huge deficit
Posted on 10/20/22 at 3:41 am to I Love Bama
quote:Bernanke first advocated for it in 2002 but 2008 was when it took off as a response to the financial meltdown.
Who was president when the helicopter money train started?
Posted on 10/20/22 at 4:36 am to Lone Wolf McQuade
quote:
Trump was all for QE and low interest rates…
quote:no one has stood up and told the truth about the fed except Ron Paul
2012 Senator Schumer Tells Bernanke: 'Get To Work, Mr. Chairman'
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