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30 yr treasuries at 5.25%, 10 yr at 4.95%
But that is impossible! :)
What are the buyer options if you buy 10 year but you need money before 10 years?
Light interest from homeloan buyers
ad says
ood zzyzzx says
We hit 8%!!!
Why ? I mean banks are virtually at zero customers with the 30 year mortgage rate above 7.5%
Unless they still are making money regardless of this such as from variable rate HELOCs, revenue from credit card interest payments, etc
Obviously National Association of Realtors and all the industry partners from appraisers to home inspectors to mortgage brokers are essentially out of work now.
Who's fault is that? Debt forever huh and savers punished? Sounds like stupidity.
GNL says
ad says
ood zzyzzx says
We hit 8%!!!
Why ? I mean banks are virtually at zero customers with the 30 year mortgage rate above 7.5%
Unless they still are making money regardless of this such as from variable rate HELOCs, revenue from credit card interest payments, etc
Obviously National Association of Realtors and all the industry partners from appraisers to home inspectors to mortgage brokers are essentially out of work now.
Who's fault is that? Debt forever huh and savers punished? Sounds like stupidity.
residential real estate prices need to drop to mid 2021 levels over the next couple of years while income increases by at least 3% annually
.
30 yr treasuries at 5.25%, 10 yr at 4.95%
Still bullish on 5 - 5.5 % by next summer?
GNL says
Still bullish on 5 - 5.5 % by next summer?
mortgage rates are based on many factors such as inflation
so by then I think the conditions will exist for a lot lower 30 year mortgage rate
,
eversion to a cash or Fuck You mean
I know that CRE (Commercial Real Estate) is hanging over the abyss, especially hotels. Banks with large CRE portfolios are shitting bricks. Moody's actually came out recently with a macroeconomic forecast that they called "Commercial Real Estate Doom Loop."
Shit is getting realer than real, real soon.
Bobby Kennedy announced a plan for 3% mortgages for all Americans.
looks like more people are putting down more money
GasTheYoungTurks says
Bobby Kennedy announced a plan for 3% mortgages for all Americans.
Got a quote for that?
For example, he wants to give away money for reparations.
ad says
For example, he wants to give away money for reparations.
ad I'm pretty sure Kennedy did not actually say that. Please find me a quote if you can. I can't find it.
If mortgage rates go down in the future, you can refinance and cash your money back out.
consider that refi is not free. Loans involve origination fees and often points
And it is unlikely that if mortgage rates fall that savings interest rates will not fall as well. Your best bet if you have the cash is to pay down the high interest mortgage and leave it there. Rebuilt your cash by putting what would have been payments back in the bank.
Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise
by Wolf Richter • Oct 19, 2023
https://wolfstreet.com/2023/10/19/median-price-of-existing-homes-falls-further-peak-was-june-2022-demand-crashes-price-cuts-jump-supply-days-on-market-rise/
Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise
by Wolf Richter • Oct 19, 2023
in our area it’s interesting. flippers bought houses when rates low, tried to flip for 300k profit because targeting ca/wa equity refugees. can’t sell because rates doubled and transplants aren’t all sitting on millions of equity. fun to watch price reduction of 100k from asking and still no offers.
Wolf Richter
FortwayeAsFuckJoeBiden says
in our area it’s interesting. flippers bought houses when rates low, tried to flip for 300k profit because targeting ca/wa equity refugees. can’t sell because rates doubled and transplants aren’t all sitting on millions of equity. fun to watch price reduction of 100k from asking and still no offers.
Examples?
ad says
For example, he wants to give away money for reparations.
ad I'm pretty sure Kennedy did not actually say that. Please find me a quote if you can. I can't find it.
or you can just redfin anything with acreage out here.
FortwayeAsFuckJoeBiden says
or you can just redfin anything with acreage out here.
Where is "out here"?
GNL says
FortwayeAsFuckJoeBiden says
or you can just redfin anything with acreage out here.
Where is "out here"?
idaho
.
Panama City Beach is a growing area and very popular ... look here at this recent sale ...
it was originally priced $345,000 in May 2023 and sold this month for $272,000 ... it sold new for $179.900 in 2013 ....
that means it appreciated about 4.25% annually since 2013 :-/
https://www.zillow.com/homedetails/1734-Annabellas-Dr-Panama-City-Beach-FL-32407/121152666_zpid/
,
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.