Dr. Evil
20×102mm Vulcan
And... no mean tweets to boot.
Mortgage rates hit close to 7% today
- Thread starter Saltwater60
- Start date
Saltwater60
20×102mm Vulcan
That’s really the only play they have. It effects everything from mortage(indirectly), to car loans to credit card rates. If it costs more to buy things people stop and the economy slows causing inflation to reside.
Saltwater60
20×102mm Vulcan
Correct but what were the savings account rates?
The forecast for home sales is taking quite a hit..
theconservativetreehouse.com
Could we see a decline in home values similar to 2008?
Fannie Mae More Than Triples Negative Forecast for Housing Sales - The Last Refuge
Lots of people talk about an inflation driven recession. Essentially, that’s a total economic contraction in the value of goods and services produced, sold and purchased, due to rising prices. However, as CTH has been pointing out for more than six months, if you subtract the federal COVID...
theconservativetreehouse.com
Could we see a decline in home values similar to 2008?
Rates can't stay near 0 forever. It's unrealistic. I want to see them higher. Might bring people back down to earth with their spending.
The forecast for home sales is taking quite a hit..
Fannie Mae More Than Triples Negative Forecast for Housing Sales - The Last Refuge
Lots of people talk about an inflation driven recession. Essentially, that’s a total economic contraction in the value of goods and services produced, sold and purchased, due to rising prices. However, as CTH has been pointing out for more than six months, if you subtract the federal COVID...
Could we see a decline in home values similar to 2008?
Been calling this housing bubble for 6 plus months. Can't wait, going to get myself a great deal on a house. Rates will rise and fall, not worried about it.
Jmac00
.475 A&M Magnum
give it a year or two, once the GOP takes over the House & Senate, things should calm down a little. If the GOP can get people back to work, open the pipe lines, interest rates should drop back a few points.
Saltwater60
20×102mm Vulcan
New housing forecast looking pretty bad. No surprise. I know someone who was quoted $628,000 for a 2000 square foot home, two story, they have the land, they were going to clear it, and install a stone driveway. Guy said used to take 6 months now we’re at 10-12 months.
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www.reuters.com
U.S. homebuilder sentiment drops to seven-month low amid surging mortgage rates
Confidence among U.S. single-family homebuilders fell to a seven-month low in April as surging mortgage rates and snarled supply chains boosted housing costs, shutting out some first-time buyers from the market, a survey showed on Monday.
www.reuters.com
spat
.700 Nitro Express
They can't fix anything without the white house.
Best they can do is stop adding to the problem until at least Feb 2025. Hopefully there's something left to fix by then.
96coal449
.308 Win
Why do we have to wait till '25 to convict Xiden of treason?
Just sayin.....
Nice thought, too many corrupt politicians. Based on history there will be a revolution when people get hungry. Coming soon.
96coal449
.308 Win
Oh, I completely understand and agree. I'm looking forwards to empty shelves.
Tired of this lie we live in.
spat
.700 Nitro Express
We could impeach him in '23.Why do we have to wait till '25 to convict Xiden of treason?
Just sayin.....
And get President Harris. Can't say it would be an improvement.
The prospect of impeaching both of them and then getting whoever is speaker of the house moved into the White house before the 2024 election is just not going to happen.
That stuff moves so slowly, even with a majority of solid conservatives and iron clad evidence of crimes it wouldn't happen that fast.
Once you factor in that the Republicans will take the house, but a lot of them will still be RINO's, even a single successful impeachment is a long shot.
Then you need to figure how many swamp monsters will still be in the Senate for the trial, Republican control of the white house before 2025 is a fantasy. You're better off wishing for SCOTUS to strike down NFA and GCA and give us national constitutional carry.
Saltwater60
20×102mm Vulcan
I think impeaching Biden is a bad move by the republicans anyway. Winning back the senate and house is a blessing and a curse. They can and will stop the bleeding of money, but they will be called and seen as obstructionist and that could very well cost them the White House in 2024. Maybe not, but people are getting dumber by the minute.
MothMan
.338 Win Mag
What is a mortage? Have not had one of those in years. Or a car payment either. 
I think everyone in congress knows Joe has to go but no one wants the responsibility for making it happen. The republicans want the democrats to invoke the 25th amendment and the democrats are just going to wait until after mid-terms and hope the republicans impeach him. Once again our elected "leaders" show nothing but craven cowardice while this country's reputation sinks lower every day and the world burns. Ahhh...democracy!
livingston
20×102mm Vulcan
Club Rules Highlighted Again – Tennessee Republican Club Blocks Morgan Ortagus, Baxter Lee and Robby Starbuck From Ballot
The Tennessee Republican Club has met to decide who they will permit on the ballot. Morgan Ortagus, Baxter Lee and Robby Starbuck have been disavowed by the TN Club for being unworthy candidates according to private rules within the assembly. Mitch McConnell smiles.
There is nothing in the U.S. Constitution which outlines or supports the use of political clubs to create political parties for candidates for office. This is one of the lesser-known facets to U.S. elections.
The Republican and Democrat parties are private clubs with internal rules that operate within the system for elections. Each club chapter can make up their own rules and select candidates for approval based on their own qualifications.
The Tennessee Republican Party voted on Tuesday to dismiss Trump-backed Morgan Ortagus, who previously served as a spokesperson at the State Department, as well as Baxter Lee and Robby Starbuck, from the primary ballot for the state’s 5th Congressional District, state GOP Chairman Scott Golden confirmed to The Hill. (read more)
Club Rules Highlighted Again - Tennessee Republican Club Blocks Morgan Ortagus, Baxter Lee and Robby Starbuck From Ballot - The Last Refuge
The Tennessee Republican Club has met to decide who they will permit on the ballot. Morgan Ortagus, Baxter Lee and Robby Starbuck have been disavowed by the TN Club for being unworthy candidates according to private rules within the assembly. Mitch McConnell smiles. There is nothing in the...
theconservativetreehouse.com
1075tech
.338 Win Mag
We put an offer on a house for $80k less than their original asking price and they accepted. It was listed for just over 2 weeks and they had already dropped their price twice.
Locked in at 4.75%. Our first house started at 6%. We had refinanced at 3% several years ago. So... not great, but better than some I was seeing.
Locked in at 4.75%. Our first house started at 6%. We had refinanced at 3% several years ago. So... not great, but better than some I was seeing.
I remember my parents telling me when they had thier house built in 1973 they took out a 30 year fixed rate mortgage on a VA loan ( dad was navy) and the best rate they could get was almost 18 percent. 7 would be a steal to them back then
WTF do banks care? If enough risky ARM's fail and they go to the brink, they'll get bailed out by Nanny Gov. or sucked up by a bigger bank, the Bank / Corporate money will slide under another shell, the idiot borrower will declare bankruptcy, and nothing will change. Big Money will ALWAYS protect Big Money.
livingston
20×102mm Vulcan
My parents had a 13 % around that time.
Saltwater60
20×102mm Vulcan
Yes but you were getting 15% in savings back then.
Very true
Saltwater60
20×102mm Vulcan
Median home buyer is paying almost double what they were one year ago in their mortgage. Wait for the recession this will be good. People will fall hard and fast. We have set up a perfect storm.
www.marketwatch.com
'Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.' The 30-year mortgage rate dips slightly to 5.1%
After rising at the fastest pace in 40 years, mortgage rates level off — but buyers should brace for persistently higher rates.
www.marketwatch.com
We have started making plans to relocate somewhere much warmer. My sense is in a couple of years prices will be more affordable. I think it's very likely we will see a decline in home prices as the upcoming recession forces people out of homes they could barely afford to begin with.Median home buyer is paying almost double what they were one year ago in their mortgage. Wait for the recession this will be good. People will fall hard and fast. We have set up a perfect storm.
'Buyers of a median-price home are looking at a monthly mortgage payment that is almost 50% higher than it was a year ago.' The 30-year mortgage rate dips slightly to 5.1%
After rising at the fastest pace in 40 years, mortgage rates level off — but buyers should brace for persistently higher rates.
Saltwater60
20×102mm Vulcan
Already happening. Sales are dropping.
Saltwater60
20×102mm Vulcan
Foreclosure rate climbs to 135% of what it was last year. No surprise since .gov banned it. Foreclosure filings are up 132% from a year prior. Here’s what that means for the housing market (and it’s not what you might think).
I really haven't been following much over the last couple years. The wife and I recently started talking about selling our cabin, house, and buying something else.
After looking a bit, it's clear this plan will be put on hold. Prices are outrageous, and nearly everything we tried to look at was pending. Going to wait this out and see what happens in a couple years.
After looking a bit, it's clear this plan will be put on hold. Prices are outrageous, and nearly everything we tried to look at was pending. Going to wait this out and see what happens in a couple years.