To: ex-Texan
They had a 42-year low in mortgage rates, but they were more concerned with how much they would have to pay each month than how much they could afford and buy a home reasonably We hit the trough with a 5.25% fixed .... but spinning the cylinder with one chamber filled (ARM) was never an option.
Buying in the Houston market was also a plus ... only properties inside the inner loop are overpriced. I've got plenty of house, plenty of yard and a 20-25 minute commute.
12 posted on
08/06/2006 9:35:45 AM PDT by
tx_eggman
(Islamofascism ... bringing you the best of the 7th century for the past 1300 years.)
To: tx_eggman
Right on. Same here. Took a 5.75% in 1998. Told the loan officer to stuff the ARM. Now home prices are going nuts in Salt Lake, too. I can't believe the prices I'm seeing demanded by sellers now. Maybe when the correction hits I can pick up a nice foreclosure.....
14 posted on
08/06/2006 9:51:16 AM PDT by
Seruzawa
(If you agree with the French raise your hand - If you are French raise both hands.)
To: tx_eggman
"We hit the trough with a 5.25% fixed .... but spinning the cylinder with one chamber filled (ARM) was never an option." You didn't hit the trough. Our mortgage is 4.5 % fixed for 10 years incepting May 2004.
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