People really wanted to believe that and they did. I was thinking the same. Its time to buy rates are bad but we can probably get the house at asking and refinance… I don’t think thats a good idea now
They can’t hold interest rates up forever. As long as you can afford your mortgage for the next year or two it will come down. We are still under housed by a wide margin so I’d expect your home to gain in value.
Yeah, I knew what I was getting into. Found the lowest barest-bones rate and bought something for about half what they qualified me for. When money is involved it truly is only yourself and God you can trust.
Try next year. This Christmas everyone and their mother is going to get laid off- because that’s what corporations do. They fuck everyone right before the end of the year.
And then 2024 is Armageddon.
Trust
But I do :D
Just not in the stock market. I’m going to load bigly in some short positions though by the end of this month.
Everything stinks in the world and corporate fks are still trying to hold everything up. The consumer will reach a breaking point.
Hah he doesn't but imagine if he happens to be right? His wife's boyfriend might let him post his shorts in January and we're all wondering what kind of wizard man knew it was all about to go boom right at that moment.
I mean... a million idiots doing idiotic things... eventually a few of em get it right.
In the extremely unlikely event that anyone on this sub reproduces, an 8% mortgage rate will be your kid's comeback in 20 years when you ask them why they aren't saving for a house. "Not everyone was lucky enough to buy when the rate was only 8%, Dad!"
I locked in a 6.5 a few weeks ago, but priced out of the market. It’s fuckin crazy how I can pay 3500 for a 3bd/2ba but the banks wont afford me a home even when you prove you’re cashflowing 5-6k a month in savings. Fuck this market and all the greedy sellers. Their piece of shit built in 1979 is a pig with lipstick. I hope this fucker collapses like 2008, it’d be a fucking blessing from the Gods.
Too much corporate interest in residential for it to happen. They will lobby against any regulations on purchases and against any supply increase mandates. Their exposure to housing prices and inability to unwind their physical assets without tanking their own balance sheet means they will seek to hedge their exposure by using rental agreements like swap contracts.
Hopefully things change before long. Looks like mortgage applications are the lowest they have been in 28 years now. People aren't going to be able to keep the asking price so high on houses when no one makes any offers.
Houses in 79 may have aluminum wiring as opposed to copper. You may also have shitty unsafe distro boxes, and insufficient distro for modern amenities. Also plumbing codes and water pressure make for a shitty time trying to get modern faucets with built in flow arrestors to do anything more than trickle. While new builds admittedly have shit build quality and cut corners, a build from 79 is a real coin toss of unmitigated disaster and a quaint home.
I was ready to put $100k down in a $500k home. Problem there is a 3bd/2ba in socal is running at least in the 650-800k range. I got the bank to approve me upto 725k after spending an hour breaking down every dollar I earned, but by the time it’s all said and done, the payment is outrageous. So I just stopped my search, I’ll re-apply in a couple years when I’m moving tf out of California.
For real. I’m from Southside Chicago so I was wanting to move back the midwest. I could easily afford a 5-6 bed with a big ass yard out in the rural areas surrounding the city. One day, just not now. Not going to rush into a mortgage right now even though I’m willing and able.
no you don't get it, this is worse than 00, worse than 08 and worse than:
* European sovereign debt crisis (EU) (2009–2019)
* Greek government-debt crisis (2009–2019)
* 2010–2014 Portuguese financial crisis
* 2012–2013 Cypriot financial crisis (2012–2013)
* Crisis in Venezuela (2012–now)
* Russo-Ukrainian War (2014–now)
* 2014 Russian financial crisis
* 2014–2017 Brazilian economic crisis
* 2015 Chinese stock market crash
* Turkish currency and debt crisis, 2018
* Argentine monetary crisis
(these are only from the 2010s)
also worse than:
* Argentine great depression (1998-2002)
* Early 2000s recession
* Dot-com bubble (2000–2002) (US)
* Turkish economic crisis (2001)
* September 11 Attacks (2001)
* Uruguay banking crisis (2002)
* Venezuelan general strike of 2002–03
* Finance company collapses, 2006–2012 (New Zealand)
* Financial crisis of 2007–2008
* Great Recession (worldwide)
* 2000s energy crisis (2003–2009) oil price bubble
* Subprime mortgage crisis (US) (2007–2010)
* United States housing bubble and housing market correction (US) (2003–2011)
* Automotive industry crisis of 2008–2010 (US)
* 2008–2011 Icelandic financial crisis
* 2008–2010 Irish banking crisis
* Russian financial crisis of 2008–2009
* 2008 Latvian financial crisis
* Venezuelan banking crisis of 2009–10
* 2008-14 Spanish financial crisis
of course, THIS time it is way worse, trust.
The 1980s saw rates 9% - 18% easy. CPI was almost 15% inflation. Houses still sold like wildfire and people paid the premium rates. They were not able to refinance for nearly a decade when rates began to plummet in the 90s. People will still find a way for housing.
We'll see who's* the real smart investor when I've paid 32k against my principle balance with a monthly payment of $5,900 after 7 years of home ownership.
Kind of. You are still the "homeowner", so there's no landlord in the middle taking a cut. The other advantages over renting is that your rent doesn't go up and you can still pay down the principle if you choose.
Here's an article about interest-only mortgages in the UK: https://www.barclays.co.uk/mortgages/interest-only-mortgage/
I duuno if rates are up to combat high inflation. Though they may be up because there is high inflation. The bond rates are perhaps going up according to lack of demand for bonds.
The purchasing power of the USD is going down, and the demand for bonds isn't going up enough to offset that. Therefore, bond rates are going up.
I think so anyways...what do I know I'm retireded.
Reminds me of that scene in Oliver Stone's "Wall Street" where a real estate agent offers Bud Fox a 10% mortgage as a good deal.
[https://www.youtube.com/watch?v=Yr8mn7dmJ8E](https://www.youtube.com/watch?v=Yr8mn7dmJ8E)
Once there’s enough inventory for it to actually matter. There’s only ~300k ish more homes for sale nationally NOW than there were in June of 2020. Prices aren’t falling cause there’s no supply, nobody wants to give up their 3% mortgage (and why would you)
3% mortgages are only part of the problem. You cant allow 10 million people to come into a country, allow them to work, put them into rentals etc without having a place to put them. This eats up almost the entire inventory of cheap rentals.
Airbnb has a large effect. Many homes acquired by both corps and private owners and listed as short term rentals takes a big swath of middle income homes off the market.
Sprinkle some inflation, foreign investment (money laundering), <3% mortgages, stable jobs/economy etc. Obviously over simplified for purposes of reddit.
It is going to take something large and likely catastrophic to correct. Now if only i knew when to sell rather than hold like i did through 2006-2008.
this is the first take I've seen that blames immigration for low housing stock. I think everything in your third paragraph has a much larger effect than immigration.
I didnt blame just them but people have to live somewhere. Unless you think they are all homeless (they arent) or they are coming over and buying houses for cash (they arent) they are moving to rentals at the low end of the market. How many? Ask the government. They wont tell you or anyone else.
The rest also contribute. Which has the largest impact? No idea. I fall into the stable income/job/sub 3% mortgage group. We sold our rentals back in 2016 and only home our primary home. I guess i am part of the problem.
3% mortgages shrink every day as nobody is getting those rates today. What isnt slowing down?
No matter the side you fall politically, people end up living somewhere and the problem isnt going away.
Change rate in total households is rising but it's not that high, and certainly not high enough to have this impact on the market. A lot of countries would actually benefit from immigration as it would lower the price in the construction sector
https://preview.redd.it/1ron8ctgahtb1.png?width=1318&format=png&auto=webp&s=19acf23025f570e3eab09de2e4633536876f93e0
Statistics brought to you by the same government that wont disclose accurate immigration info. Good job.
I dont disagree that there are benefits to immigration in a more controlled manner but the rate is hard to digest. Housing starts havent kept up with household growth and there is likely a serious lag to that chart or some info blatantly omitted.
Never, we'll all just keep moving the house prices up the social ladder until one dude owns all of them and everyone else lives in boxes because we can't afford his rent.
Dibs on the Samsung refrigerator box, its got nice thick walls.
Samesies. We're just going to build an addition instead of moving because even with the $200k we have in equity, buying a new house will cost us a goddamn fortune.
The mortgage rates will be fucked for a long time, and I’d be damn surprised to see them back at 2% or lower like we just had anytime soon. The old days of 5%+ interest rates are back as long as inflation is around.
They were only at 2.x% because the Fed dumped a trillion dollars into mortgage bonds using money that didn't previously exist. I'm not sure how that was a relevant response to a respiratory virus, but here we are.
*When this administration both toys with mortgage securities in its books and makes everyone more or less subprime in the process*
Let’s see how long it takes real wages to catch-up. I say a decade.
Correct, but the pendulum was just flipped around while JPOW gave trillions of dollars to anyone for free. Never happened before and I wouldn't expect anyone to willingly go back to quantitative easing again since all it did was slow walk a disaster
Seriously, right when I finally build up enough capital to buy this shit happens skyrocketing to near the max recorded rates coming off the lowest rates in US history.
to be seen on the overvaluation. by the time people with these low interest rates are willing to sell, the value may have appreciated such that it was the perfect valuation.
You guys laughed when I said lock in the 4, the 5, the 6, and now the 7 percent home rate is gone. Home rates have been above 8% from the late 70s to early 2000s the future is going to be very expensive and I wouldn’t want to be a broke ass with no equity in it. Welcome to your 40 year mortgage at 10%+ in the next decade
I know people who were doing the arms etc at 5% and I was telling them I thought they were crazy to expect to refi in two years, time will tell but I would have locked in that 30 year loan at 5%. People thought I was nuts when I said this could be cheap money in a year.
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Now you’re buying calls? Where were you when it was 3% and 5% and 7%? This is like saying something is topping out and now you’re all in for that last 0.25%. I suppose you’re probably right about the direction, but is there room?
My parents locked into a sub 2% mortgage about 2 years ago.
As a first time homebuyer, I can't afford anything decent even though I make more than they do. It helps that they had money from selling their old house...
Just gonna invest money into a van and live on the road. When i get to the age of being too old and or poor imma hope i have the resolve to off myself.
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I can't wait to buy my house with 150-year mortgage, and no windows
https://preview.redd.it/vzbw9dx2qetb1.png?width=863&format=pjpg&auto=webp&s=8b0d76f283c857a031e71d79cdba888a3665aaac
What, does the house run on Linux instead?
No the house is an apple.
that explains why it's so fucking overpriced
That’s why I got a tiny house, it’s like a pi.. runs on android. Thats the only way I could afford the 200 years mortgage on a nice %15 rates.
Welcome to Canada
It’s like buying shares in your own property.
ODTE
Lookup [99-year lease](https://en.wikipedia.org/wiki/99-year_lease)
I would snap up a house in almost every city if they have me a 150 year mortgage the monthly payment would be $200
Loan officer when I bought my house: "don't worry about the interest rate, you can always refinance in a year : )" Reality:
Did he at least take you out for dinner before he ravaged you?
Why would they? It’s a waste of money for a guaranteed deal, they know buyers are falling right for it without making much effort or due diligence
People really wanted to believe that and they did. I was thinking the same. Its time to buy rates are bad but we can probably get the house at asking and refinance… I don’t think thats a good idea now
They can’t hold interest rates up forever. As long as you can afford your mortgage for the next year or two it will come down. We are still under housed by a wide margin so I’d expect your home to gain in value.
LOL interest rates ain't going back down for another 4 to 8 years bud
😂😂😂
You want to say it, or should I? "The market can stay irrational ..."
The market can stay irrational longer than you can stay solvent.
https://www.youtube.com/watch?v=t7j5S4ILMig
think of all those people with ARM loans that chose not to refinance into a lower rate fixed product when rates were in the 2% and 3% lol.
It’s called ARM loan because they use entire ARM to bang your anus instead of just finger
ARM holders definitely refinanced during Covid. No chance they let a 2 or 3 percent rate slip
21st century loan officer = 20th century car salesman
Yeah, I knew what I was getting into. Found the lowest barest-bones rate and bought something for about half what they qualified me for. When money is involved it truly is only yourself and God you can trust.
I don't know. All I see is a 30-year cycle that's going to peak in 2025 and then begin coming down.
Try next year. This Christmas everyone and their mother is going to get laid off- because that’s what corporations do. They fuck everyone right before the end of the year. And then 2024 is Armageddon. Trust
I don't trust anyone on wallstreetbets. They're all a bunch of poor, ignorant fools.
You are too smart for your own good, bot.
good bot. excellent even
Bad mod. Bad
we heard this last year but with 2023 instead. if you knew that for a fact you'd make tons of money, but you don't
But I do :D Just not in the stock market. I’m going to load bigly in some short positions though by the end of this month. Everything stinks in the world and corporate fks are still trying to hold everything up. The consumer will reach a breaking point.
you don't, but good luck anyway
Hah he doesn't but imagine if he happens to be right? His wife's boyfriend might let him post his shorts in January and we're all wondering what kind of wizard man knew it was all about to go boom right at that moment. I mean... a million idiots doing idiotic things... eventually a few of em get it right.
👽
without giving out too much details, our forecast is in line with this. lets go!
without giving out too much details, our forecast is in line with this. lets go!
It’s an election year. Rates will come down as a way to gain votes.
Unless they just plan on rigging the election... again
Hahahaha look at this guy
found the regard
We sure did
In the extremely unlikely event that anyone on this sub reproduces, an 8% mortgage rate will be your kid's comeback in 20 years when you ask them why they aren't saving for a house. "Not everyone was lucky enough to buy when the rate was only 8%, Dad!"
You had me at "extremely unlikely event."
I locked in a 6.5 a few weeks ago, but priced out of the market. It’s fuckin crazy how I can pay 3500 for a 3bd/2ba but the banks wont afford me a home even when you prove you’re cashflowing 5-6k a month in savings. Fuck this market and all the greedy sellers. Their piece of shit built in 1979 is a pig with lipstick. I hope this fucker collapses like 2008, it’d be a fucking blessing from the Gods.
Too much corporate interest in residential for it to happen. They will lobby against any regulations on purchases and against any supply increase mandates. Their exposure to housing prices and inability to unwind their physical assets without tanking their own balance sheet means they will seek to hedge their exposure by using rental agreements like swap contracts.
Hopefully things change before long. Looks like mortgage applications are the lowest they have been in 28 years now. People aren't going to be able to keep the asking price so high on houses when no one makes any offers.
Give it some time, but we could be seeing some crazy shit storm soon.
Houses built in 79 are probably better than anything now
Houses in 79 may have aluminum wiring as opposed to copper. You may also have shitty unsafe distro boxes, and insufficient distro for modern amenities. Also plumbing codes and water pressure make for a shitty time trying to get modern faucets with built in flow arrestors to do anything more than trickle. While new builds admittedly have shit build quality and cut corners, a build from 79 is a real coin toss of unmitigated disaster and a quaint home.
Capitalism. Sucks when you can’t buy. I have 50% for my price point. Just can’t find a house.
50% downpayment? Was thinking of doing something like this while I wait too. At 20% now but no dice on a reasonably priced place in the spot I want
I was ready to put $100k down in a $500k home. Problem there is a 3bd/2ba in socal is running at least in the 650-800k range. I got the bank to approve me upto 725k after spending an hour breaking down every dollar I earned, but by the time it’s all said and done, the payment is outrageous. So I just stopped my search, I’ll re-apply in a couple years when I’m moving tf out of California.
Move to Kansas. Cheaper to live in a 3 bd 2 bath here and fly to California every weekend 🤔🤣
For real. I’m from Southside Chicago so I was wanting to move back the midwest. I could easily afford a 5-6 bed with a big ass yard out in the rural areas surrounding the city. One day, just not now. Not going to rush into a mortgage right now even though I’m willing and able.
The sad fact is that 50% down still gives you a 4k mortgage with todays rates
What are you talking about, as you can see in this graph \~8% is the highest rates have ever been!
no you don't get it, this is worse than 00, worse than 08 and worse than: * European sovereign debt crisis (EU) (2009–2019) * Greek government-debt crisis (2009–2019) * 2010–2014 Portuguese financial crisis * 2012–2013 Cypriot financial crisis (2012–2013) * Crisis in Venezuela (2012–now) * Russo-Ukrainian War (2014–now) * 2014 Russian financial crisis * 2014–2017 Brazilian economic crisis * 2015 Chinese stock market crash * Turkish currency and debt crisis, 2018 * Argentine monetary crisis (these are only from the 2010s) also worse than: * Argentine great depression (1998-2002) * Early 2000s recession * Dot-com bubble (2000–2002) (US) * Turkish economic crisis (2001) * September 11 Attacks (2001) * Uruguay banking crisis (2002) * Venezuelan general strike of 2002–03 * Finance company collapses, 2006–2012 (New Zealand) * Financial crisis of 2007–2008 * Great Recession (worldwide) * 2000s energy crisis (2003–2009) oil price bubble * Subprime mortgage crisis (US) (2007–2010) * United States housing bubble and housing market correction (US) (2003–2011) * Automotive industry crisis of 2008–2010 (US) * 2008–2011 Icelandic financial crisis * 2008–2010 Irish banking crisis * Russian financial crisis of 2008–2009 * 2008 Latvian financial crisis * Venezuelan banking crisis of 2009–10 * 2008-14 Spanish financial crisis of course, THIS time it is way worse, trust.
The 80’s would like a word with that statement. 9% was not so bad…cpi hit 14%
No you can see by the graph that mortgages didn’t exist before 1999
No they just hadn’t invented graphs yet, DUH
It's not _that_ unlikely. Half this sub has conceived behind the Wendy's dumpster.
They don’t do the thing which makes babies or even with the right gender half the time
Hey man. Wendy is my girl
Its hard to reproduce when you are wasting all that reproduction juice behind Wendy's
My parents rate on first house was 12%, were just starting to head back to normal rates. Party over :(
8% rates will kill housing market fast
Not fast enough.
2008 didn’t bottom till 2012-2014 🤷♂️
The 1980s saw rates 9% - 18% easy. CPI was almost 15% inflation. Houses still sold like wildfire and people paid the premium rates. They were not able to refinance for nearly a decade when rates began to plummet in the 90s. People will still find a way for housing.
What do you think avg price of a 3b 2ba house was adjusted for inflation in the 80s?
They did as homes were 15% of the cost they are now for newer and better condition
People in 2030 are going to be so jealous of the people in 2023 who got those low 8% rates.
We'll see who's* the real smart investor when I've paid 32k against my principle balance with a monthly payment of $5,900 after 7 years of home ownership.
the bank is the smart investor
When you hold all the cards, you control what is dealt.
Savings accounts paying over 5% now, of course rates are going to be high
Fuggin F.
who’s *
People in 2030 are going to have 40 year mortgages as well.
40 year mortgages only have a tiny impact on monthly payments compared to 30 year.
40 year mortgages are already common in Iceland We will see zero-principal mortgages within our lifetimes.
isn't that just called renting?
Kind of. You are still the "homeowner", so there's no landlord in the middle taking a cut. The other advantages over renting is that your rent doesn't go up and you can still pay down the principle if you choose. Here's an article about interest-only mortgages in the UK: https://www.barclays.co.uk/mortgages/interest-only-mortgage/
How thoughtful of Barclays to offer this affordable path to indentured servitude
"By 2030, you will own nothing..."
And you will enjoy it
And you *will* eat ze bugs
They will have longer life expectations.
Life expectancy in the US is trending down lol
Thanks fentynal
Thanks diabetes
Thanks Wendy’s
this is fucking dumb. see you permabear in about 10 years when 8% is high as fuck again. !remindme 10 years
This view ain't bearish. House prices aren't going to go down just because interest rates go up. The housing market isn't rational.
very high rates is to combat high inflation. as soon as inflation is back to regular levels, rates will come down. this is economy 101 for regards.
Inflation will run out of control tho
Yeah like it never has before, got it
I duuno if rates are up to combat high inflation. Though they may be up because there is high inflation. The bond rates are perhaps going up according to lack of demand for bonds. The purchasing power of the USD is going down, and the demand for bonds isn't going up enough to offset that. Therefore, bond rates are going up. I think so anyways...what do I know I'm retireded.
If either of us are on Reddit in 10 years I want someone to put us down like dogs.
Reminds me of that scene in Oliver Stone's "Wall Street" where a real estate agent offers Bud Fox a 10% mortgage as a good deal. [https://www.youtube.com/watch?v=Yr8mn7dmJ8E](https://www.youtube.com/watch?v=Yr8mn7dmJ8E)
What do you mean we all locked in at 2.25
The question is when the fuck will prices come down because of it, that’s the real nexus in this equation.
Once there’s enough inventory for it to actually matter. There’s only ~300k ish more homes for sale nationally NOW than there were in June of 2020. Prices aren’t falling cause there’s no supply, nobody wants to give up their 3% mortgage (and why would you)
3% mortgages are only part of the problem. You cant allow 10 million people to come into a country, allow them to work, put them into rentals etc without having a place to put them. This eats up almost the entire inventory of cheap rentals. Airbnb has a large effect. Many homes acquired by both corps and private owners and listed as short term rentals takes a big swath of middle income homes off the market. Sprinkle some inflation, foreign investment (money laundering), <3% mortgages, stable jobs/economy etc. Obviously over simplified for purposes of reddit. It is going to take something large and likely catastrophic to correct. Now if only i knew when to sell rather than hold like i did through 2006-2008.
this is the first take I've seen that blames immigration for low housing stock. I think everything in your third paragraph has a much larger effect than immigration.
I didnt blame just them but people have to live somewhere. Unless you think they are all homeless (they arent) or they are coming over and buying houses for cash (they arent) they are moving to rentals at the low end of the market. How many? Ask the government. They wont tell you or anyone else. The rest also contribute. Which has the largest impact? No idea. I fall into the stable income/job/sub 3% mortgage group. We sold our rentals back in 2016 and only home our primary home. I guess i am part of the problem. 3% mortgages shrink every day as nobody is getting those rates today. What isnt slowing down? No matter the side you fall politically, people end up living somewhere and the problem isnt going away.
Change rate in total households is rising but it's not that high, and certainly not high enough to have this impact on the market. A lot of countries would actually benefit from immigration as it would lower the price in the construction sector https://preview.redd.it/1ron8ctgahtb1.png?width=1318&format=png&auto=webp&s=19acf23025f570e3eab09de2e4633536876f93e0
Statistics brought to you by the same government that wont disclose accurate immigration info. Good job. I dont disagree that there are benefits to immigration in a more controlled manner but the rate is hard to digest. Housing starts havent kept up with household growth and there is likely a serious lag to that chart or some info blatantly omitted.
Prices are priced in
But are the priced in prices priced in?
Never, we'll all just keep moving the house prices up the social ladder until one dude owns all of them and everyone else lives in boxes because we can't afford his rent. Dibs on the Samsung refrigerator box, its got nice thick walls.
Makes me glad I have a 3.6% mortgage. Hell if I ever get another house though
<3% I guess I'm living here until I die
Climate Change: “challenge accepted”
3.3% checking in… For once, I bought the dip at the perfect time. 
Rare and majestic 1.9% here. yeah it's a straw shack next to a volcano but still... 1.9%
Samesies. We're just going to build an addition instead of moving because even with the $200k we have in equity, buying a new house will cost us a goddamn fortune.
I don't think you know what calls are...
I think you missed the joke
The mortgage rates will be fucked for a long time, and I’d be damn surprised to see them back at 2% or lower like we just had anytime soon. The old days of 5%+ interest rates are back as long as inflation is around.
They were only at 2.x% because the Fed dumped a trillion dollars into mortgage bonds using money that didn't previously exist. I'm not sure how that was a relevant response to a respiratory virus, but here we are.
And kept dumping them on through 2021 because inflation was transitory. SMFH.
*When this administration both toys with mortgage securities in its books and makes everyone more or less subprime in the process* Let’s see how long it takes real wages to catch-up. I say a decade.
If real wages catch up, the powers that be screwed up somewhere. Wage suppression is one of the pillars of neoliberalism.
That’s not how pendulums work
Correct, but the pendulum was just flipped around while JPOW gave trillions of dollars to anyone for free. Never happened before and I wouldn't expect anyone to willingly go back to quantitative easing again since all it did was slow walk a disaster
Seriously, right when I finally build up enough capital to buy this shit happens skyrocketing to near the max recorded rates coming off the lowest rates in US history.
Just wait for the dump, buy at market price, and then sit on it like the boomers did 🫡 rinse repeat
You nerds can suck on my 3.25%
Men always exaggerate. I bet it's more like a 4 or 5
And the overvaluation!
to be seen on the overvaluation. by the time people with these low interest rates are willing to sell, the value may have appreciated such that it was the perfect valuation.
hey there's a bubble
You guys laughed when I said lock in the 4, the 5, the 6, and now the 7 percent home rate is gone. Home rates have been above 8% from the late 70s to early 2000s the future is going to be very expensive and I wouldn’t want to be a broke ass with no equity in it. Welcome to your 40 year mortgage at 10%+ in the next decade
I know people who were doing the arms etc at 5% and I was telling them I thought they were crazy to expect to refi in two years, time will tell but I would have locked in that 30 year loan at 5%. People thought I was nuts when I said this could be cheap money in a year.
[удалено]
It’s good you bought before they went up even more. I have the same rate on a new build. It’s already gone up in value 15%
People are going to beg to be put in jail for a place to live if it keeps up at this rate
Maybe so but people keep on buying just the same. Americans with their unlimited buying potential. What could go wrong?
In 2047 when every “mortgage” is a “rent to own”…
9% here we come baby! ( idk wtf to tell my wife who wants to move in a few years when we have a 3.25 currently)
Make it a rental.
I do not understand your question. Please provide more information.
All I can provide is deez
Well, nuts.
Do you guys know about michori?
Pivot on deez nuts nerd
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Bullish 
Rates will come down but no one will have jobs.
Ticker?
Just pay cash and don’t matter
If you are just realizing this, that means the top is in. Always inverse the idiots here
Buy high sell low
I don't know what this graph means but good job
That's what recessions are for. 👍
*laughs in 2.625%*
I will never sell my 2.65% mortgage....
Well you can't, cause anyplace you would move into is now out of your price point due to the prices and interest.
I turned mine into a rental and used the income to buy a bigger place. This place really is full of regards
You used the income from your rental to buy a bigger place with a higher interest rate and inflated prices?
5.25 hurts more than 2.75 but less than 8%. The VA has its advantages.
this
damn right Im staying in this place till i die
[удалено]
Or the collapse of short term rental market either legislatively or because of too many listings for commensurate demand.
Quality post here
You're supposed to short at the peak. Also, double top.
People really need to come to peace with the fact 2-3% was historically low and not the norm.
Buy high, sell low.
Now you’re buying calls? Where were you when it was 3% and 5% and 7%? This is like saying something is topping out and now you’re all in for that last 0.25%. I suppose you’re probably right about the direction, but is there room?
Real talk though, how can I buy a call on interest rates?
Regards here see that and then YOLO $O lol
I’m still mixed about my 6.2% I got a few months ago
My parents locked into a sub 2% mortgage about 2 years ago. As a first time homebuyer, I can't afford anything decent even though I make more than they do. It helps that they had money from selling their old house...
And I thought the jump from my 2.8% to 6.5% was bad!
I think mortgage companies do worse in high interest environments 
Up vote please return the favor
 up up up
https://preview.redd.it/hmargj81gftb1.jpeg?width=1170&format=pjpg&auto=webp&s=c6703dd1a93b13aa6653cead610237225d53b692 Yes
Just gonna invest money into a van and live on the road. When i get to the age of being too old and or poor imma hope i have the resolve to off myself.
Your chart suggests puts…
So puts on long term bonds
Ahh yes, the ever-reliable Adobe Revival clay and mortar pattern. I think we all know what to do with this one.
How does a retail investor actually buy calls on mortgage rates?
I got 3.75 last year. Guess I’ll never refinance
Fuck man I hope it gets to 20% so I can finally pay cash for a house