6.6% 30 year rate, about normal from my perspective. Actually not bad at all compared to what I have paid in the last 50 years that ranged from 6% to 14%.
Houses and just about everything else are too high now though. They went up too much in covid.
yes, everything is too high. You can’t leave McDonalds these days for under $100
Yes, and it’s a great time to get an ARM loan and ride the rates down. Home prices will rise faster as mortgage rates drop.
When interest rates go up, home prices slow their rise and then start to drop. When interest rates go down home prices rise again due to better affordability. Then Builders build more, causing prices to stagnate again when supply catches up with demand.
Lots of money to be made over time if you play it right as a homeowner and/or an investor.