Economy/Credit/Housing Issues Ping List
If you want on or off this list let me know.
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30-year mortgage rates are based on the 10-year bond (not the 30-year bond because the average mortgage is closer to ten years). The 10-year bond yield hit 3.84% the other day and today is right around 4%. These are very nearly at the lowest rates in the past five years at least (except for an impossible-to-predict spike down that lasted about three months in 2003.) If you want a mortgage, go for the 30-year one.
This is doom'n'gloom/we need a democratic president stuff?/sar
6.24% is soaring? Does anyone remember the 70’s?
Highest in two months??!! Holy Toledo!!
I just closed on my 1st home last Friday. It took many years of saving, scrimping, and sacrificing. I resisted the pressure to buy during the bubble. My wife and I bought a home that we liked, and one that we can afford. We look at our house as a place to live out our days, not a piggy-bank.
Our criteria for a house was to buy something that my monthly payments and my utility costs would be covered by my military pension check, and that we would only finance with a 30 year fixed rate mortgage. We were patient, stuck to our guns, and now we have the “American Dream”.
Wow, highest level in two whole months...
Wait a minute, this CANNOT be allowed to happen! I mean, if people can convert their risky, economy breaking ARMs into conventional loans - just like they were told to do 3-5 years ago when they took out their ARM - then how can we have a housing meltdown to confirm the Worst Economy Ever?
For shame!