Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!
Oh no!
Over 7%!!![/b][/i]
Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
Mortgage rates can go all the way to 7?!?!
unprecedented
if you're under 30
You’re such a dishonest little shit. Look at the median cost of a home.
I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.
But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
10.25% was an issue when I bought my first home too.
You seem to ignore the fact that sellers are also impacted by rising rates.
But rates at 3 - 4% was always going to be the aberration.
Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing[/b]
If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
In fact, those two conditions cannot co-exist for very long. [/b]
I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.
Nothing new under the sun.