[quote=briansd1][quote=SD Realtor]
To completely answer your question, yes I think when the bond market falls apart yes we will have a drop in all areas. Do a mortgage calculation for say a 500k loan at 5% verses 9%.[/quote]
That’s what I’m waiting for. Still wondering when that will happen.[/quote]
Interest rates werent 9% in 1997 when I bought my 1st home here and when they are higher folks will just opt for adjustable rates in the short term and refi when they drop. Expecting and waiting for 9% interest rates is a folly IMO and will leave you waiting to buy well past the prime years of your life. Rules of thumb like that are dangerous to get stuck on. Watch, run numbersd and take the plunge when it makes sense for you rather than waiting for some mythical number.
