Mortgage Rates!!!!!!!

[stevenash]

Trump & Congress took the debt to GDP to 100% w the Covid /SBA programs.

The $1.5Trillion Biden printed w the Dem Congress upon taking office literally bankrupted the United State.

Debt went to 107% of GDP that is literally bankrupt....and that is why the Fed IA shrinking its balance sheet by $100 BILLION per month AND STILL cannot reign in inflation.

It is 100% failed liberal economics.

Biden and his people are now blaming the Fed Reserve for this out of control inflation saying the Fed reacted too little too late.

[HAPPY BOY]

all you Biden voters..nice job..thanks for f*cking up AMERICA cause ORANGE MAN said mean things..a**holes!!

[MinnesotaFats]

Biden and his people are now blaming the Fed Reserve for this out of control inflation saying the Fed reacted too little too late.

https://www.google.com/amp/s/www.brookings.edu/blog/up-front/2021/01/28/the-macroeconomic-implications-of-bidens-1-9-trillion-fiscal-package/amp/

The entire policy (and Fed inaction) was pushed by our biggest Covid Vaxx pusher.

Remember Bill Gates? Oh yeah- Mr Vaxx Science himself who was all over the news last 2 years. He's the single biggest contributing factor to The Brookings Institute- which is the 1 think-tank the Fed cites in its policy meetings.

You'll see that Brookings was extremely supportive of Bidens Stimulus plan, undermining the inflation concerns.

You know you had it right all along? Mitch McConnell. That is one reason Trump ran into trouble, McConnell wouldn't sign off on bankrupting the USA- Trumps last check was $600...Biden / Schumer created the current mess to bailout blacks, unions, mass transit & give Voters that $1400 he promised.

[pavyracer]

This is how capitalism works. The free market controls the rates based on supply and demand.

Do you think capitalism is supposed to have $30 per barrel oil, 3% mortgage rates, 0% financing for cars indefinitely and still function?

Free market is what is this country is all about.

[Otters27]

This is how capitalism works. The free market controls the rates based on supply and demand.

Do you think capitalism is supposed to have $30 per barrel oil, 3% mortgage rates, 0% financing for cars indefinitely and still function?

Free market is what is this country is all about.

Do you think free market eventually crushes America? When all the wealth is siphoned to the top.

[jjgold]

https://www.google.com/amp/s/www.bro...l-package/amp/

The entire policy (and Fed inaction) was pushed by our biggest Covid Vaxx pusher.

Remember Bill Gates? Oh yeah- Mr Vaxx Science himself who was all over the news last 2 years. He's the single biggest contributing factor to The Brookings Institute- which is the 1 think-tank the Fed cites in its policy meetings.

You'll see that Brookings was extremely supportive of Bidens Stimulus plan, undermining the inflation concerns.

You know you had it right all along? Mitch McConnell. That is one reason Trump ran into trouble, McConnell wouldn't sign off on bankrupting the USA- Trumps last check was $600...Biden / Schumer created the current mess to bailout blacks, unions, mass transit & give Voters that $1400 he promised.

fatty smartest man alive

[stevenash]

fatty smartest man alive

Fatty knows a thing or two about a thing or two.

I like Fatty even though you want to smack him upside the head with a rolled up newspaper every now and then.

Right Minny?

[Fishhead]

Brock could learn a thing or two from Fatty

[pavyracer]

Do you think free market eventually crushes America? When all the wealth is siphoned to the top.

The wealth is not siphoned to the top. You just have to learn to adjust. Buy a house or refinance when the rates are low. When the gas is high drive less or get a car with a better fuel milage. It's all depended on supply and demand. The only thing a consumer can control is the demand. So if the demand is low the supply will increase and the prices will come down.

[MinnesotaFats]

This is how capitalism works. The free market controls the rates based on supply and demand.

Do you think capitalism is supposed to have $30 per barrel oil, 3% mortgage rates, 0% financing for cars indefinitely and still function?

Free market is what is this country is all about.

Pavy

We haven't had a free trade/ free market since reconstruction.

We have a CENTRALIZED banking system.

Brief history for you:

Hamilton pro central bank
Jefferson anti central bank

USA no central bank until 1815 or so...then A Jackson decertifies it and power reverts back to the States.

Lincoln nationalized the banking system 35 years later and also issued illegal paper money (his own Treasury Secretary later became a SCOTUS Justice and ruled it unconstitutional).

Upon the institution of a nationalized banking system came the European style mercantile system of economics...public funding for infrastructure, income taxation, apportionment unequal within the Union, etc.

We do not have capitalism or free trade or a market based interest rate. We have a dictatorial economy....w a few large players.

[Fishhead]

If you can't make it in the USA, you're a dumbfuk and/or lazy.

[KRIT]

Feel great about my 3% interest rate I got a couple years ago. My house value has also increased about 35%. Feels like a big win.

[goduke]

7 percent?

Are they out of their minds

Not seeing that anywhere for a common home loan. 4.5-5% looks like the norm right now. Unless youre refinancing your trailer or you have no fiscal responsibility and your credit score sucks

[Brock Landers]

If you can't make it in the USA, you're a dumbfuk and/or lazy.

Lots of lazy folks on the beach and sidewalks in CALIFORNIA

[MinnesotaFats]

Another issue w mortgage rates is Federal interference via Fanny/ Freddie

You get arbitrary rates based on credit score, loan value (not as % of pur have but jumbo or non jumbo), military service and race.

Non of that should matter, but again the failure of Centralized banking mixed w liberal policy making grinds everything to a hault.

[VeggieDog]

https://www.npr.org/2022/04/08/1091568039/canada-bans-foreign-home-buyers

Canada's answer to a hot housing market: ban foreign buyers for 2 years

[Art Vandelay]

Trump & Congress took the debt to GDP to 100% w the Covid /SBA programs.

The $1.5Trillion Biden printed w the Dem Congress upon taking office literally bankrupted the United State.

Debt went to 107% of GDP that is literally bankrupt....and that is why the Fed IA shrinking its balance sheet by $100 BILLION per month AND STILL cannot reign in inflation.

It is 100% failed liberal economics.

Liberals and Economics a bad mix - They're absolutely clueless and prove it on a daily basis!

[pilebuck13]

So essentially the housing market is going to crash as all these people like me sitting in homes I bought for 220k and were selling at 600k people will not qualify at 7 percent on a house that high so naturally this will lower prices of homes as less people will be able to afford anything…. Am I wrong ?

[lakerboy]

https://www.npr.org/2022/04/08/10915...gn-home-buyers

Canada's answer to a hot housing market: ban foreign buyers for 2 years

Except permanent residents and students. Nothing changes. Chinese and Indians funneling money through those people especially permanent residents.

[mama whoiscrying]

Democrats being Democrats. High gas, food, and interest rates.

[Otters27]

So essentially the housing market is going to crash as all these people like me sitting in homes I bought for 220k and were selling at 600k people will not qualify at 7 percent on a house that high so naturally this will lower prices of homes as less people will be able to afford anything…. Am I wrong ?

Sell now and live in your mom's basement. Then buy low for cash when prices go down but rates are still high

[pavyracer]

So essentially the housing market is going to crash as all these people like me sitting in homes I bought for 220k and were selling at 600k people will not qualify at 7 percent on a house that high so naturally this will lower prices of homes as less people will be able to afford anything…. Am I wrong ?

The housing market is not going to crash. There are not enough homes to sell as the byers outnumber the sellers. Remember if you bought a house at 200k and want to sell now at 600k then after you sell you have to buy a new house with the 7% rate to get a new mortgage. A person who is locked in at 3% rate is not going to sell their house and buy a new one with a 7% mortgage. So housing market is not going to cool off as the sellers will always be less than the byers.

[MinnesotaFats]

As of now we are 5% off the high for median priced housing in Northern & California markets.

I believe you'll see this downward trend continue as people are now working remotely (This will be Covids lasting impact).

As cities die due to blacks, liberals & the end of the office work setting, the burbs will grow AS WILL the southern libertarian leaning States.

There will be a time however where even that peaks. I've seen pull back in Florida in the upper tiers of housing already.

There are only so many qualified buyers out there, and rates will effectively have doubled by years end, meaning what was once a $2500 pmt will be a $3500+ pmt, skewing the qualifications, the buyer pool and ultimately reducing the selling prices of everything.

But the north and Blue States will feel this housing bubble burst the hardest (probably a 15-20 drop off highs) and the South probably stays within 10%.

[pilebuck13]

Thanks guys makes sense as I was just getting ready to sell…. And re locate I don’t mind renting for a little while…as I can clear quite a bit off my home…. About to make the move East men… the Union I’m in has went to shit retirement steadily gotten so bad most are jumping ship….. they just got raided fixing votes on our contract and making bad investment deals I’m over it…

[Mr KLC]

Definitely not selling, even though my home's value has gone up about 33% in the last couple of years. My mortgage payment is $300 less a month than my son's rent for his one bedroom apartment.

[TheGoldenGoose]

I have but one question.
Who came up with the idea of variable rates?

[JIBBBY]

Mortgage rates are going up now. Sucks for first time home buyers looking for lending now and even on a fixed rate.

Pay all cash if you can and you avoid those rising interest rates period. That's what I'm doing with my commercial properties now on the 1031 tax exchanges. Buying all cash is so easy and fast also. Sellers love it, no drawn out escrows with all cash offers. Usually get a little better deal also with all cash offers.

Cash is king in recessions also.

[lakerboy]

If you are over 50 and still have a mortgage payment you haven't done life right.

[USCPHILLYGUY]

If you are over 50 and still have a mortgage payment you haven't done life right.

Didn’t buy my 1st house until I was 37. Think I’m doing just fine

[lakerboy]

Didn’t buy my 1st house until I was 37. Think I’m doing just fine

This isn't about you or anyone else. It's just a general statement. I'm sure you have your personal reasons for that. A typical mortgage runs 25-30 years.

By the age of 50 if one had some decent planning they should be pretty much mortgage free. Most people can't work at the same level after 50 so paying mortgage plus regular living expenses plus retirement planning will make that difficult.

Homes always appreciate over time so buying at a young age will put one in a good position.

[d2bets]

My first mortgage 2001 was 7.25%. Kids are spoiled these days.

[d2bets]

If you are over 50 and still have a mortgage payment you haven't done life right.

That's not really true. I mean, if you are locked in at 2.5% now and instead invested the difference over the past 2, 5, 10, 12 years...is that bad?

[pilebuck13]

Mortgage rates are going up now. Sucks for first time home buyers looking for lending now and even on a fixed rate.

Pay all cash if you can and you avoid those rising interest rates period. That's what I'm doing with my commercial properties now on the 1031 tax exchanges. Buying all cash is so easy and fast also. Sellers love it, no drawn out escrows with all cash offers. Usually get a little better deal also with all cash offers.

Cash is king in recessions also.

Jibby I’m sure we all just have cash to buy a house laying around and if we did no shit pay cash for it?

Jibbys advice guys: if you have cash pay cash avoid interest fukin best advice I’d ever heard never thought about it I’d rather sit on my millions and pay interest for no reason

[lakerboy]

That's not really true. I mean, if you are locked in at 2.5% now and instead invested the difference over the past 2, 5, 10, 12 years...is that bad?

I don't have a mortgage payment and I'm under 50. You can do both. I did.

[lakerboy]

My first mortgage 2001 was 7.25%. Kids are spoiled these days.

I'm sure homes were the same price as today as well right lol. In Ontario a home is $865000 average price. It was $200000 in 2001. You think 7.25% was the same as now?