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Mortgage rates have been rising at a pace not seen in almost 50 years

By Patrick following x   2018 May 24, 9:09pm 672 views   4 comments   watch   nsfw   quote     share    


http://www.chicagotribune.com/business/ct-mortgage-rates-7-year-high-20180524-story,amp.html

Mortgage rates continued their upward march this week, extending the most prolonged increase in rates in 46 years.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.66 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.61 percent a week ago and 3.95 percent a year ago.

The 15-year fixed-rate average jumped to 4.15 percent with an average 0.4 point. It was 4.08 percent a week ago and 3.19 percent a year ago. The five-year adjustable rate average rose to 3.87 percent with an average 0.3 point. It was 3.82 percent a week ago and 3.07 percent a year ago.

"Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years," Sam Khater, Freddie Mac's chief economist, said in a statement.
1   CBOEtrader   ignore (5)   2018 May 24, 10:35pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Whats the situation w the ARMs?
2   APOCALYPSEFUCKisShostikovitch   ignore (38)   2018 May 24, 11:16pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

WE!'RE! SO! FUCKED!

WE!'RE! SO! FUCKED!

WE!'RE! FUCKED!

WE!'RE! FUCKED!

WE!'RE! FUCKED!
3   lostand confused   ignore (0)   2018 May 25, 6:25am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Wow I just refinanced a few years ago at 2.94% for a 15 yr.
4   Tenpoundbass   ignore (15)   2018 May 25, 7:23am   ↑ like (0)   ↓ dislike (0)   quote   flag        

This is from a site running the same story.

13. Miami
Median sale price: $260,000
Monthly payment: $1,290
Annual household income needed to buy: $51,595

Should they make it illegal to tout Annual income needed for a Mortgage without disclosing the Taxes and Insurance needed for that location?
I know damn well this mortgage would be looking at another $800 or more in taxes and insurance a month.

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