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  • On 24 Apr 2014 in Mortgage rates going up, Call it Crazy said:

    iwog says

    Call it Crazy says

    Did the article in the OP say rates rose this week??

    Yes or no?? Answer the question!

    Yes. In the title.

    Also in the very first sentence of the article:

    Fixed mortgage rates edged higher this week.

    Seriously how can you be this stupid?

    So, if you read the first sentence in the article, then why did you post this?

    iwog says

    Mortgage rates are stable to trending slightly down since the peak last year.

    Who was referring to last YEAR??? The story was about last WEEK...

    Idiot!!!

  • On 24 Apr 2014 in Your Smartphone Is Spying on You and There's Nothing You Can Do About It, Call it Crazy said:

    Talk about bring old threads back from the dead....

  • On 24 Apr 2014 in California real estate price update today, Call it Crazy said:

    JH says

    2. Typically move-up buyers have equity. Even though one's house is no longer underwater, there is likely not enough equity to make a significant downpayment.

    BINGO!!!!!

    There are a bunch that may just be above water from what their mortgage balance (like 19% now) is, but they are "functionally underwater" to be able move...

    Not only do they need to pay off their existing mortgage, but they have to pay selling commissions, closing costs, pay for movers, have at minimum 3.5% (or more) for the next down payment and closing costs on the next house...

    So, if they just want to break even on the move up new house, they need to have 15% to 20% equity in the old house...

    Many don't have that equity... It's close to 40% that are "functionally" underwater....

    Now add in low wages, weak credit scores and questionable employment, and the odds of getting a NEW mortgage is tough...

  • On 24 Apr 2014 in Mortgage rates going up, Call it Crazy said:

    iwog says

    Call it Crazy says

    The article was referencing rising rates THIS WEEK, and you go and post monthly numbers...

    See that giant interest rate spike from Monday?

    That was this week dipshit. That is why your rates are high. (and wrong)

    Did the article in the OP say rates rose this week??

    Yes or no?? Answer the question!

  • On 24 Apr 2014 in California real estate price update today, Call it Crazy said:

    iwog says

    Naww, I'd rather ask you since it's your post presumably making your point.

    How did you determine that someone who "purchased or refinanced in the past seven years with good equity" is not in a financial position to sell??

    Apparently, reading STILL isn't one of your stronger suits...

    ...."Between 2011 and 2013, mortgage interest rates hit historic lows. Many buyers and refinancers locked in rates well below 4 percent. These homeowners are unlikely to sell and buy something else because home prices and mortgage rates are now significantly higher than they were at the time that they purchased or refinanced their current home.

    Recently, the Institute for Housing Studies corroborated Redfin findings with evidence that “rapidly increasing interest rates, along with negative equity, ‘lock in’ households to their existing mortgages and residences, which reduces housing turnover.”

  • On 24 Apr 2014 in California real estate price update today, Call it Crazy said:

    iwog says

    Okay first of all your pie chart is stupid.

    It came from your Bible source at Redfin... Check the link I posted...

  • On 24 Apr 2014 in New house prices rise, sales plunge 14%, Call it Crazy said:

    FunTime says

    I can't find the BusinessWeek article now, but I remember reading one that said the drop went from 1% to 14%. Did sales really drop like that in one month? I would think the sales would start to pick up for the Spring.

    http://patrick.net/forum/?p=1241821

  • On 24 Apr 2014 in California real estate price update today, Call it Crazy said:

    iwog says

    Very few people are underwater now.

    Why Aren’t There More Homes For Sale?
    Over Half of Homeowners are Not Currently In a Financial Position to Sell

    Low equity (19%) — A home with low equity is one for which the homeowner owes more than 80% of the value of the home. Most of these low equity homes were purchased or refinanced during the home price bubble between 2004 and 2009.

    Combining these factors, more than half of all existing homes are unlikely to be put up for sale without significant changes in the housing market.

    http://www.redfin.com/research/reports/special-reports/2014/why-arent-there-more-homes-for-sale.html#.U1lY0RCrHpd

  • On 24 Apr 2014 in Mortgage rates going up, Call it Crazy said:

    iwog says

    I give good reasons for not using a weekly survey, and you do what? Post another weekly survey.

    Reading comprehension issues again, I see..... Didn't read the article at the OP, did you.... Try reading before posting...

    Here, I'll help you:

    Fixed mortgage rates edged higher this week, with Freddie Mac reporting that lenders were offering 30-year loans to solid borrowers at an average of 4.33%, up from 4.27% a week ago.

    The average for a 15-year fixed loan rose from 3.33% to 3.39%,

    The mortgage rate increase this week followed an uptick in the yield on 10-year Treasury notes late last week,said Frank Nothaft, Freddie Mac’s chief economist.

    http://www.latimes.com/business/money/la-fi-mo-freddie-mac-mortgage-rates-20140424,0,1145129.story#ixzz2zpCOXgnF

    The article was referencing rising rates THIS WEEK, and you go and post monthly numbers...

    You can't make this stuff up folks!!!

  • On 24 Apr 2014 in Mortgage rates going up, Call it Crazy said:

    iwog says

    No they aren't.

    The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.49 percent from 4.47 percent, with points increasing to 0.50 from 0.32 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

    The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 4.41 percent from 4.39 percent, with points increasing to 0.34 from 0.18 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

    The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.20 percent from 4.14 percent, with points increasing to 0.41 from 0.06 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

    The average contract interest rate for 15-year fixed-rate mortgages increased to 3.55 percent from 3.54 percent, with points increasing to 0.33 from 0.24 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

    The average contract interest rate for 5/1 ARMs increased to 3.16 percent from 3.15 percent, with points decreasing to 0.36 from 0.41 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

    http://www.mbaa.org/NewsandMedia/PressCenter/88065.htm

  • On 24 Apr 2014 in California real estate price update today, Call it Crazy said:

    iwog says

    Resets?

    HELOC Resets Could Force Lenders to Rework Loans Once Again

    Once again, homeowners are beginning to see their monthly payments go up, this time because their home equity lines of credit have reached the 10-year mark and are resetting. Instead of requiring just interest payments, the second lien becomes fully amortizing and the borrower has to pay both interest and principal each month for the first time.

    It is going to be painful for many borrowers who could see their monthly mortgage payments go up by $400 or more, according to Horvath, an executive vice president for Springboard Nonprofit Consumer Credit Management Inc. in Riverside, Calif.

    “Just when you think you are climbing out of it, and then you got these adjustments,” he says.

    http://www.nationalmortgagenews.com/news/servicing/heloc-resets-could-force-lenders-to-rework-loans-once-again-1041377-1.html

    https://www.google.com/#q=heloc+resets

  • On 24 Apr 2014 in Why has this house gone pending three times?, Call it Crazy said:

    swebb says

    I can see why goes from pending -> active, but I never understand when it goes from active -> pending.

    waiting_for_the_fall says

    loans aren't approved.

    swebb says

    foundation needs some major work

    The inspector finds the cracks in the foundation..

  • On 23 Apr 2014 in Obamacare enrollees hit snags at doctor's offices, Call it Crazy said:

    curious2 says

    elliemae says

    Every physician I know....

    Elliemae has deteriorated recently, and forgotten that the plural of anecdote is not data. Her migraines are making her suicidal, which puts her at further risk of a toxic SSRI Rx. It's sad, but she gets upset if anyone suggests the trouble might be caused by her meds, so we can only watch and wait for her to figure it out herself.

    She does live in UT, she could be referring to veterinarians....

  • On 23 Apr 2014 in Obamacare enrollees hit snags at doctor's offices, Call it Crazy said:

    elliemae says

    Call it Crazy says

    With many doctors opting out of plans and enrolless having less choice of doctors, I think many will end up at the emergency rooms,

    I work in healthcare. Every physician I know (with the exception of one very odd concierge MD who is struggling to maintain his practice) accepts insurance.

    I see, so the information and individual experiences in the article provided by the LA Times are all lies... Got it!!

    http://www.latimes.com/business/money/la-fi-mo-covered-california-pulls-provider-directory-20140206,0,3930552.story#axzz2zlo4Y4Nk

  • On 23 Apr 2014 in Which of the following cities are best to live/work in?, Call it Crazy said:

    CL says

    Which of the following cities are best to live/work in?

    CL says

    Daly City

    Dublin

    Fremont

    Oakland

    San Francisco

    San Rafael

    Walnut Creek

    Any other Bay Area city?

    Man, you guys are racists.... I don't see ONE East Coast city listed..

  • On 23 Apr 2014 in Home Sales Drop Again- Got Housing Recovery?, Call it Crazy said:

    Strategist says

    Kristopher says

    Call it Crazy says

    Probably no females in his life.....

    Haha, luckily I have a girlfriend of 3 years who has supported me all the way. It's been a rough road working copious amounts of extra hours and denying myself some of the trips and fun things that my friends and coworkers partake in. Right now the $110k is just a number on a screen, but i'm hoping the saving pays off someday.

    See that Crazy, his girl supports him so he can save up, we got the wrong women.

    Damn, we're doing something wrong here.... Denying trips?? How's he pulling that off???

    Crap, I got stuck having to take the woman on a cruise for our anniversary in two weeks....

  • On 23 Apr 2014 in New Home Construction Plunges- Got Housing Recovery?, Call it Crazy said:

    smaulgld says

    At best there will be pent up desire to buy homes but not attainable demand and people can't afford homes at today's prices and wages

    Yep, just like my pent up desire for a Ferrari that I can't afford at today's prices and wages....

  • On 23 Apr 2014 in New Home Construction Plunges- Got Housing Recovery?, Call it Crazy said:

    Strategist says

    In the meantime pent up demand continues to gather steam. When we hit critical mass you will see a take off of biblical proportion.

    Strategist says

    This basically means home prices must go up further and keep going up until new home building catches up with population growth.

    It's gonna be earth shattering for real estate.

    You really need to share with us that great quality of drugs you're taking that keeps you so delusional... :)

  • On 23 Apr 2014 in Obamacare opens up many jobs and new career opportunities, Call it Crazy said:

    It's a winner for bankruptcy attorneys and collection agencies......

  • On 23 Apr 2014 in Home Sales Drop Again- Got Housing Recovery?, Call it Crazy said:

    Strategist says

    A 25 year old who makes $100,000+, and has saved up 100,000+ must know what he's doing.

    Probably no females in his life.....

  • On 23 Apr 2014 in Home Sales Drop Again- Got Housing Recovery?, Call it Crazy said:

    Strategist says

    Wait till you get married...you don't know how wives can be.

    Don't do it..................................

    clambo says

    The only reason to go heavily into debt for kristopher is if he decides he wants to have children and a wife.

    It's just the opposite.... he'll BE in debt if he gets married and has kids!!!!!... Right now he has it made in the shade!!!

    DON'T GET MARRIED!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • On 23 Apr 2014 in California real estate price update today, Call it Crazy said:

    Heraclitusstudent says

    The same applies to people who have a mortgage but still invest savings, instead of paying back their mortgage.

    The one thing you're missing with that idea.... Equity in a house is non-liquid, you can't pull it tomorrow if you need it for an emergency. And, if your house value drops, you'll never be able to HELOC it back it out.

    Savings that are invested are more readily available, if needed....

  • On 23 Apr 2014 in New Home Construction Plunges- Got Housing Recovery?, Call it Crazy said:

    Tim Aurora says

    Read the whole comment and not just a part of it. The first part said, that until the existing homes are priced above the replacement cost

    Read your comment... How much growth does it take??

    Tim Aurora says

    The house prices , which normally trace inflation have gone over the roof ( think 30% to 50% in the last 3 years).

    If that rise in existing house prices doesn't drive someone to look at NEW houses, nothing will (except LACK of wages)...

  • On 23 Apr 2014 in Who clicks enough internet ads to give Facebook $642 million in 3 months?, Call it Crazy said:

    Heraclitusstudent says

    Once advertisers realize the fraud, fakebook is due for a fall.

    Maybe somebody inside knows that too...

    Facebook says CFO is stepping down

    SAN FRANCISCO (MarketWatch) - Facebook Inc. FB +3.49% on Wednesday announced that Chief Financial Officer David Ebersman is stepping down. He will be replaced by David Wehner, currently the Menlo Park, Calif.-based company's vice president for corporate finance. Ebersman will stay with the company through September to ensure a smooth transition. In a statement, Ebersman said, "This has been a tough decision because Facebook is such a great company and has such a bright future ahead, but I've decided to move back into healthcare where I spent my career before Facebook.

    Translation: I'm fleeing before I get skinned alive...

    http://www.marketwatch.com/story/facebook-says-cfo-is-stepping-down-2014-04-23?dist=tbeforebell

  • On 23 Apr 2014 in The Fed Tapers into a Recession, Call it Crazy said:

    smaulgld says

    Another poor month of housing and job numbers and the Fed might reconsider their taper

    I don't know.... The Trillions in QE already spent has got us to where we are now.... Basically no where (except a propped up stock market)

    Doesn't seem to be helping...

    They're going to have to look into their bag of tricks for a different solution...

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