Article

2022-06-14 Economy

Housing Affordability Hits Record Low As Mortgage Rates Soar To 6.1%

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Posted by Besoeker 2022-06-14 06:49|| || Front Page|| [7 views ] Top

#1 When I signed the mortgage on my house in '94, the interest rate was 10% on a 30 year fixed. For some reason, the world did not end. Here's a suggestion - save and put a large amount down on the purchase up front, buy someplace everybody in the world is not moving to.

Posted by Procopius2k 2022-06-14 07:24|| 2022-06-14 07:24|| Front Page Top

#2 post crash the rates will come down again

start a refinance folder with pay slips, tax returns, etc.

Posted by Lord Garth 2022-06-14 07:52|| 2022-06-14 07:52|| Front Page Top

#3 In the meantime, according to Fox, in certain markets house prices have already started falling.

Posted by trailing wife 2022-06-14 08:39|| 2022-06-14 08:39|| Front Page Top

#4
Checked yesterday,
ReFi'ing the house for the same original loan amount, to pay our non-covered C-19 insurance medical/hospital bills.

Note: The house is appraised at $45K+ more now than 4 years ago. So with our extra monthly principal payments etc., we have well over a 40% owner equality.

A ReFi for the same loan amount was around $200 more a month.

My 2022-23 SSA cola needs to be what the DC Swamp gave itself 21%.

Posted by NN2N1 2022-06-14 08:48|| 2022-06-14 08:48|| Front Page Top

#5 Just in 2 years here prices went from 350kish to 680k. There is no way people can afford that bullshit so the price WILL come down. Especially if the feds raise the rates.

Posted by DarthVader 2022-06-14 16:34|| 2022-06-14 16:34|| Front Page Top

23:32 Joe Tzu
23:29 Joe Tzu
23:27 Joe Tzu
23:25 Joe Tzu
22:40 badanov
22:33 trailing wife
22:28 trailing wife
22:20 magpie
22:14 ruprecht
21:18 Procopius2k
19:59 Dale
19:07 Black Charlie Slairt1430
19:01 Dale
18:17 Glenmore
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17:52 JohnQC
17:48 Kofi Snomogum8216
17:41 Rex Mundi
17:21 NN2N1
17:17 Lord Garth
16:59 magpie
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