Lucky that I bought then, because mortgages were higher for the next 20 years, mainly much higher.
Posted on 05/12/2022 9:14:20 AM PDT by Browns Ultra Fan
The Freddie Mac 30-year mortgage rate is rising faster than a SpaceX moonshot!
I’m telling your now that The Fed is killing the dreams of millions of Americans by pricing them out of the housing market. Home price growth is lethal as is the increase in mortgage rates.
Do The Feddy!
(Excerpt) Read more at confoundedinterest.net ...
Soaring?
it is just getting back to where it belongs.
With Carter rates went up to 17%. You want Biden - King of MAAH (Make America A Hellhole) to beat Carter’s record?
Lucky that I bought then, because mortgages were higher for the next 20 years, mainly much higher.
With reagan it was 9.9-10.5 in 1987. 5.3 is where it should be.
Ditto!
Mortgage interest rates should be around 7%.
That way, CDs can yield 5% with the bankers getting 2%.
A lot of retirees counted on pulling their money out of stocks, buying CDs and living off the interest.
Since they can't, they are hanging onto as much of their money as they can and slowly spending the principal.
If they could get 5%, a LOT of money would start flowing that is now being held.
Still a very low rate. My first place I had a 7.75% rate.
Everyone will just move to 5/1 and 7/1 ARMs. They already are. How do I know this? 30 years in the mortgage industry.
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