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Posted on 7/30/25 at 6:34 pm to Sweep Da Leg
Since you apparently consider yourself in the 1% please explain to us 99% why mortgage rates went up when the Fed raised the rate and why they remain high.
Posted on 7/30/25 at 6:55 pm to AuburnTigers
quote:You mean way back when people made a 10th of what they make today? It's all relative.
My first was 11.5 %- 2 under prime for bond money for first time home buyers.
way back when homes cost 80k
Posted on 7/30/25 at 6:58 pm to SDVTiger
quote:
Maybe the debt everyone cries about can start to be paid off
I don't think that's ever going to happen. But if we can reduce deficits and slow the growth of the debt that would be ideal.
Posted on 7/30/25 at 7:14 pm to David_DJS
quote:
build 1300 sq ft homes with a carport, linoleum flooring, and no bells/whistles?
I think many would be happy to buy an existing home like that. They could then update the house over time, build equity, and move into something better as their finances improve as they get older. However, right now, they can’t even get into homes like that -- unless they're willing to sacrifice their kids' safety by moving into slums currently inhabited by Latoya’s main constituency.
Posted on 7/30/25 at 7:15 pm to trinidadtiger
My, how far you have fallen.
Posted on 7/30/25 at 7:54 pm to trinidadtiger
quote:
One friggin point is not gonna change your life, and if it is, perhaps you should re-evaluate your life.
The interest rates and quantitative tightening reduced double digit inflation....ya want that back??????
A few months off the crack pipe and you want right back on it???
The BBB is about to drop trillions back in the economy, along with trillions of offshore investment. Perhaps it might be prudent to hold the course before we pick up the pipe......
To those who are waiting on lower interest rates in hopes the home of their dreams in waiting is purchased with a 5% 30 year fixed note.....That home you want that currently is listed for $450k with a 6.5% 30 year fixed rate mortgage will jump up to $500k within 3-6 months if the Fed drops the funds rate 100 basis points. The bottom line, you're gonna pay for higher home prices with lower financing or cheaper homes with higher financing, welcome to the world of whack-a-mole.
Another interesting nugget, nearly 86% of current home loans are 6% or lower. Back in the late 70's through the early 90's a 30 year fixed home mortgage averaged over 10% during that 20 year period. The average rate for a 30 year mortgage historically going back to 1971 is nearly 7.75%
Posted on 7/30/25 at 8:10 pm to Buryl
quote:
Who is getting a 100k mortgage?
I provided $100k mortgage payments so they can easily be scaled up. So for $420k mortgage just multiply my monthly payment numbers by 4.2.
This post was edited on 7/30/25 at 8:12 pm
Posted on 7/30/25 at 8:22 pm to AuburnTigers
quote:
that just a bad take my guy. The middle class and younger generations also took advantage of those low interest rates. Low interest rates were great for everyone.
They weren’t great for everyone. Crazy low interest rates fueled 35% inflation over 4 years, drove home prices out of reach for a large chunk of Americans, and have partially frozen the real estate market. A lot of people, I’m guessing including you, benefited tremendously. It’s also hurt a lot of people and will continue to have negative effects for a long time.
Posted on 7/30/25 at 8:27 pm to trinidadtiger
You must live in an apt and drive a beat up pinto.
Posted on 7/30/25 at 8:29 pm to trinidadtiger
Only a douche would say something like this.
Posted on 7/30/25 at 8:45 pm to GumboPot
quote:Buying a used double-wide?
But a $100k 30 mortgage at 7% interest rate:
A fricking shack on 1/4 acre is $250K!
Posted on 7/30/25 at 9:27 pm to greygoose
The Fed does not want to admit that they were dead wrong about Tariffs. However, Trump has already proven them wrong and will contiue to do so.
Posted on 7/30/25 at 9:29 pm to trinidadtiger
A federal reserve bank shouldn’t exist.
Posted on 7/31/25 at 3:45 pm to MMauler
quote:
However, right now, they can’t even get into homes like that -- unless they're willing to sacrifice their kids' safety by moving into slums currently inhabited by Latoya’s main constituency.
Which is why the underserved part of the market needs new development.
quote:
I think many would be happy to buy an existing home like that.
Why not build them if they're not available outside of shitty neighborhoods?
Posted on 7/31/25 at 3:54 pm to trinidadtiger
It’s the difference in at least $3k a month on my mortgage payment so no, I don’t think I’ll stop bitching about it.
Posted on 7/31/25 at 4:00 pm to trinidadtiger
Well lowering the rate by 1 point is only .01%
Lowering it by 1% would be 100 points.
Lowering by 1% is actually a big deal since a normal rate change is done in .25% increments.
Lowering it by 1% would be 100 points.
Lowering by 1% is actually a big deal since a normal rate change is done in .25% increments.
This post was edited on 7/31/25 at 4:02 pm
Posted on 7/31/25 at 4:04 pm to MMauler
Affordable housing
Cheap debt
Pick one, you can’t have both.
Cheap debt
Pick one, you can’t have both.
Posted on 7/31/25 at 4:14 pm to trinidadtiger
quote:While I agree with the sentiment, one friggin point translates to billions and billions in cost of carry stacking on to our deficits. For folks reliant on loans for car and home, the costs are significant as well.
One friggin point is not gonna change your life
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