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re: 7% Mortgage Rates 30-Year
Posted on 9/23/26 at 10:26 am to GeauxPanthers2
Posted on 9/23/26 at 10:26 am to GeauxPanthers2
quote:
Housing prices in Texas and Florida should start falling pretty soon.
With the way our currency is being debased, I’m not sure about that.
Posted on 9/23/26 at 10:28 am to lsu777
“yea my house is prolly worth what the assessed value it plus some but honestly not a lot of reason for the value to go up.”
Your situation may just be the assessed value catching up with the real value. Kinda hard to argue with that.
Your situation may just be the assessed value catching up with the real value. Kinda hard to argue with that.
Posted on 9/23/26 at 10:32 am to idlewatcher
quote:
quote:
The problem is the median home prices. They need to fall at least 15-25%
Texas is sitting on a boatload of inventory. 40+% have dropped their price after 3 months sitting.
There are a lot of new homes just sitting up here plus more being built in NW Arkansas. There are four brand new homes within a block of my house. I can see two of them from my house and they are not getting anyone to look at them even with open houses.
This post was edited on 9/23/26 at 10:35 am
Posted on 9/23/26 at 10:44 am to SDVTiger
quote:
If housing dropped this much the frenzy of buying would push it right back up
Yep. Right now, buyers in my area are buying houses that are either steeply discounted, or paying market value for a house that is new or newly renovated.
Prices will come down gradually, or remain flat, for a while, IMO. I sold my house in the summer of '24 and it's value has gone down 15% since then. I'm waiting for the right time to buy, now. I think I'm going to start getting seriously in the spring.
Posted on 9/23/26 at 10:47 am to Tomatocantender
Believe it or not, historically 7% is actually on the low side. Interest rates were twice that in 1980’s.
Posted on 9/23/26 at 10:50 am to SlowFlowPro
quote:
The problem is the median home prices. They need to fall at least 15-25%
New homes need to be smaller and local governments need to allow for that. Costs aren’t coming down. The main way to address it is smaller homes.
Prior to 2002 (the first time the 30 got as low as 7%), homes were much smaller. It wasn’t until the early 2000s that tract built homes got so big.
Builders can maintain their same margins with smaller homes by increasing sales volume. Margins can actually decrease on larger homes.
We need smaller homes coming online in new construction to help with this.
Posted on 9/23/26 at 10:52 am to paulb52
quote:
Believe it or not, historically 7% is actually on the low side. Interest rates were twice that in 1980’s.
This is often stated and known.
What needs to be said along with it is home prices relative to incomes. That ratio is around 5 today compared to 3 in the 1980s, so there's some offset there. Interest rates are lower by comparison today, but it costs more as a percentage of your income.
Posted on 9/23/26 at 10:55 am to lgtiger
quote:
Better than the 18% in the early 80s
Yeah and houses were like $16k.
Posted on 9/23/26 at 10:56 am to Tomatocantender
The fixed rate was 21% when we financed our home in 1981.
Posted on 9/23/26 at 11:14 am to SlowFlowPro
And we’re going to ignore interest rates and their role in this? Very selective in your argument. Whiff.
Posted on 9/23/26 at 11:22 am to Tomatocantender
not as bad as JC back in the 70's it was in double digits
Posted on 9/23/26 at 11:24 am to TimeOutdoors
County live in just or is passing an ordinance if you have a rental residence it now becomes a commercial property.
Posted on 9/23/26 at 11:28 am to RobertFootball
quote:
No, housing prices need to fall 35-55% at the least.
That will crash the system like 2008.
Loan amounts greater than the home value. It would be a disaster.
Posted on 9/23/26 at 11:29 am to ronricks
quote:
Not possible. SDVCuck told us Trump would have mortgage rates in the 4's!!!!! You are just a Kamala voter and a panican and a weak trans homosexual cuck! You are also poor!!!
Are you buying a house right now or just crying over nothing?
And just for those wondering, we are essentially back to 2024 levels after a small dip in rates in 2025.
quote:
The overall annual average for a 30-year fixed mortgage in 2024 was 6.72% to 6.90%.
So again, a bunch of histrionics from the usual fricktards.
This post was edited on 9/23/26 at 11:34 am
Posted on 9/23/26 at 11:30 am to Tomatocantender
quote:
7% Mortgage Rates 30-Year
So below average for the last 50 years.
Over the last 50 years, the average 30-year fixed mortgage rate in the United States has been approximately 7.70%.
Posted on 9/23/26 at 11:31 am to SlowFlowPro
quote:There's a structural shortage of housing that hasn't been addressed hardly at all. Hard to see prices dropping in that condition.
The problem is pricing hasn't fallen to create an equilibrium with the rates. Homes are still valued as if they were selling in 2021 and 2022.
We can easily deal with 7% rates if the median home price returns to levels of sanity
Posted on 9/23/26 at 11:33 am to InTheDetails
quote:
And we’re going to ignore interest rates and their role in this?
My comment was in response to the state of interest rates.
Posted on 9/23/26 at 11:49 am to RobertFootball
quote:
No, housing prices need to fall 35-55% at the least.
Just what will stimulate the market and fix things...killing everyone's equity and net worth so no one can afford to put 20% down on a house.
I wish some of you would say your dumb post out loud before posting it.
Posted on 9/23/26 at 11:51 am to Tomatocantender
quote:
Ouch!
How old were you in th late 80's?
The crater your pu$$y explosion would have left in Metairie alone could have left Power Blvd. to the 17th street canal in ruins.
Posted on 9/23/26 at 11:59 am to Stonehog
quote:
Better than the 18% in the early 80s
Yeah and houses were like $16k.
They were more like 50k and got to about 100k end of the decade
With an 18% rate that was a payment of 1500 which would be about 3500-400 now on a 400k home which equals a rate of about 6%
Yet ppl are crying
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