Interest rates

[scaredyclassic]

i understand the concept of higher rates theoretically beingg ood for buyers, but man, the same loan I bought a month ago would cost 10% more a month for the payment. i doubt i could get the house for 10% less (i mean, maybe i could, since price is kind of fuzzy and indeterminate, but what i mean is i doubt the market has really fallen proportionately to the rise in monthly payment).

Not sure what that means, but, it is kind of nice assuming you’re going to hold on to the loan for a long time to ahve that low rate. Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.

I am also of the camp that reflexively mocks reltors who cry out ‘buy now while rates are low’ and it does sound cheesy and make you want to take the contrary side, but conisder– just because a realtor is saying it doesn’t necessarily make it untrue. Sometimes people who you are suspicious of actually say something true.

it might be biased, distorted and loaded with various caveats, it might be only possibly true, it might be just an opinion, but buying at a low interest rate is not necessarily in and of itself a bad thing! At least i’m going to keep telling myself that.

[briansd1]

[quote=walterwhite]Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
[/quote]

It depends on your holding period, whether you will need to sell to move up, and where you’re buying. Temecula should be safe, but coastal San Diego is another story.

I’ve encouraged some friends to buy in their areas knowing that they would hold the properties to mortgage payoff.

I think that if the economy recovers and there’s no double dip, then rates are on the way up.

The foreclosures due to unemployment (as opposed to the earlier foreclosures due to speculation) are only beginning to be felt. So there will be more choices for buyers in the future.

[briansd1]

[quote=walterwhite]Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
[/quote]

It depends on your holding period, whether you will need to sell to move up, and where you’re buying. Temecula should be safe, but coastal San Diego is another story.

I’ve encouraged some friends to buy in their areas knowing that they would hold the properties to mortgage payoff.

I think that if the economy recovers and there’s no double dip, then rates are on the way up.

The foreclosures due to unemployment (as opposed to the earlier foreclosures due to speculation) are only beginning to be felt. So there will be more choices for buyers in the future.

[briansd1]

[quote=walterwhite]Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
[/quote]

It depends on your holding period, whether you will need to sell to move up, and where you’re buying. Temecula should be safe, but coastal San Diego is another story.

I’ve encouraged some friends to buy in their areas knowing that they would hold the properties to mortgage payoff.

I think that if the economy recovers and there’s no double dip, then rates are on the way up.

The foreclosures due to unemployment (as opposed to the earlier foreclosures due to speculation) are only beginning to be felt. So there will be more choices for buyers in the future.

[briansd1]

[quote=walterwhite]Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
[/quote]

It depends on your holding period, whether you will need to sell to move up, and where you’re buying. Temecula should be safe, but coastal San Diego is another story.

I’ve encouraged some friends to buy in their areas knowing that they would hold the properties to mortgage payoff.

I think that if the economy recovers and there’s no double dip, then rates are on the way up.

The foreclosures due to unemployment (as opposed to the earlier foreclosures due to speculation) are only beginning to be felt. So there will be more choices for buyers in the future.

[briansd1]

[quote=walterwhite]Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
[/quote]

It depends on your holding period, whether you will need to sell to move up, and where you’re buying. Temecula should be safe, but coastal San Diego is another story.

I’ve encouraged some friends to buy in their areas knowing that they would hold the properties to mortgage payoff.

I think that if the economy recovers and there’s no double dip, then rates are on the way up.

The foreclosures due to unemployment (as opposed to the earlier foreclosures due to speculation) are only beginning to be felt. So there will be more choices for buyers in the future.

[scaredyclassic]

i was thinking back to when i bought a car in the 80’s. I was real careful shopping price, got the lowest price possible but didn’t shop interest rate at all, and got some cockamamie lousy financing through the dealer at a bad rate. dumb.

houses are different in some ways, but man, i thought about housing prices, but I hadn’t really been thinking about what a difference interest rates make on your payment. there’s just so many moving pieces a guy can keep in mind. Price seems easier to control. i am always in a state of shock whenever i catch a lucky bounce, but my 4.375% jumbo rate is starting to look good to me, even if prices go down on houses. I mustve drank some koolaid or gotten brain damaged or something. I’m sure there are earlier posts where I mocked, derided and insulted people who buy based on the monthly payment price. But dammit, the monthly payment price matters! And I kind of to some extent bought based on the monthly payment price being a number I liked.

[scaredyclassic]

i was thinking back to when i bought a car in the 80’s. I was real careful shopping price, got the lowest price possible but didn’t shop interest rate at all, and got some cockamamie lousy financing through the dealer at a bad rate. dumb.

houses are different in some ways, but man, i thought about housing prices, but I hadn’t really been thinking about what a difference interest rates make on your payment. there’s just so many moving pieces a guy can keep in mind. Price seems easier to control. i am always in a state of shock whenever i catch a lucky bounce, but my 4.375% jumbo rate is starting to look good to me, even if prices go down on houses. I mustve drank some koolaid or gotten brain damaged or something. I’m sure there are earlier posts where I mocked, derided and insulted people who buy based on the monthly payment price. But dammit, the monthly payment price matters! And I kind of to some extent bought based on the monthly payment price being a number I liked.

[scaredyclassic]

i was thinking back to when i bought a car in the 80’s. I was real careful shopping price, got the lowest price possible but didn’t shop interest rate at all, and got some cockamamie lousy financing through the dealer at a bad rate. dumb.

houses are different in some ways, but man, i thought about housing prices, but I hadn’t really been thinking about what a difference interest rates make on your payment. there’s just so many moving pieces a guy can keep in mind. Price seems easier to control. i am always in a state of shock whenever i catch a lucky bounce, but my 4.375% jumbo rate is starting to look good to me, even if prices go down on houses. I mustve drank some koolaid or gotten brain damaged or something. I’m sure there are earlier posts where I mocked, derided and insulted people who buy based on the monthly payment price. But dammit, the monthly payment price matters! And I kind of to some extent bought based on the monthly payment price being a number I liked.

[scaredyclassic]

i was thinking back to when i bought a car in the 80’s. I was real careful shopping price, got the lowest price possible but didn’t shop interest rate at all, and got some cockamamie lousy financing through the dealer at a bad rate. dumb.

houses are different in some ways, but man, i thought about housing prices, but I hadn’t really been thinking about what a difference interest rates make on your payment. there’s just so many moving pieces a guy can keep in mind. Price seems easier to control. i am always in a state of shock whenever i catch a lucky bounce, but my 4.375% jumbo rate is starting to look good to me, even if prices go down on houses. I mustve drank some koolaid or gotten brain damaged or something. I’m sure there are earlier posts where I mocked, derided and insulted people who buy based on the monthly payment price. But dammit, the monthly payment price matters! And I kind of to some extent bought based on the monthly payment price being a number I liked.

[scaredyclassic]

i was thinking back to when i bought a car in the 80’s. I was real careful shopping price, got the lowest price possible but didn’t shop interest rate at all, and got some cockamamie lousy financing through the dealer at a bad rate. dumb.

houses are different in some ways, but man, i thought about housing prices, but I hadn’t really been thinking about what a difference interest rates make on your payment. there’s just so many moving pieces a guy can keep in mind. Price seems easier to control. i am always in a state of shock whenever i catch a lucky bounce, but my 4.375% jumbo rate is starting to look good to me, even if prices go down on houses. I mustve drank some koolaid or gotten brain damaged or something. I’m sure there are earlier posts where I mocked, derided and insulted people who buy based on the monthly payment price. But dammit, the monthly payment price matters! And I kind of to some extent bought based on the monthly payment price being a number I liked.

[desmond]

I totally agree with you WW, you have drank the koolaid.

[desmond]

I totally agree with you WW, you have drank the koolaid.

[desmond]

I totally agree with you WW, you have drank the koolaid.

[desmond]

I totally agree with you WW, you have drank the koolaid.

[Author]

Posts