Mr Mortgage: Mortgage Rates Soar

[jpinpb]

Couple of things. First, there are only a few states out of the 50 that are experiencing a housing crisis and eventually all the other states will be protesting to all these taxpayer bailouts.

Second, every time I go through the long list of NODs throughout San Diego County, there are some people that extracted an incredible amount of equity from their property.

Now, what they did w/the cash is another story. Did it get all spent back in the economy? Did they put it in an offshore account, under a mattress?

Whatever was done, regardless of the fraudulent factor, there was “wealth.” Some of it was pumped back into the economy. Some of it may be stashed by the smart ones. (I would not be in that category, since I didn’t participate in the scam)

[an]

That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.

[an]

That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.

[an]

That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.

[an]

That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.

[an]

That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.

[capeman]

[quote=AN]That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.[/quote]

Mr. Mortgage is a 20+ year vet in the home loan arena and he’s been pretty on it with his data and predictions.

I’d bet the aimloan.com advertisement is over-promising and nobody would be able to get those rates if applying. I could be wrong but the rates are moving so fast that one would only have a slim chance of catching them at advertised lows.

[capeman]

[quote=AN]That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.[/quote]

Mr. Mortgage is a 20+ year vet in the home loan arena and he’s been pretty on it with his data and predictions.

I’d bet the aimloan.com advertisement is over-promising and nobody would be able to get those rates if applying. I could be wrong but the rates are moving so fast that one would only have a slim chance of catching them at advertised lows.

[capeman]

[quote=AN]That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.[/quote]

Mr. Mortgage is a 20+ year vet in the home loan arena and he’s been pretty on it with his data and predictions.

I’d bet the aimloan.com advertisement is over-promising and nobody would be able to get those rates if applying. I could be wrong but the rates are moving so fast that one would only have a slim chance of catching them at advertised lows.

[capeman]

[quote=AN]That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.[/quote]

Mr. Mortgage is a 20+ year vet in the home loan arena and he’s been pretty on it with his data and predictions.

I’d bet the aimloan.com advertisement is over-promising and nobody would be able to get those rates if applying. I could be wrong but the rates are moving so fast that one would only have a slim chance of catching them at advertised lows.

[capeman]

[quote=AN]That doesn’t make any sense. Where, how & when did he get his data? Right now, you can get 4.500% with
1.571, 4.750 with 0.643, and 5.125 with 0 point at aimloan.com.[/quote]

Mr. Mortgage is a 20+ year vet in the home loan arena and he’s been pretty on it with his data and predictions.

I’d bet the aimloan.com advertisement is over-promising and nobody would be able to get those rates if applying. I could be wrong but the rates are moving so fast that one would only have a slim chance of catching them at advertised lows.

[jficquette]

[quote=TheBreeze]By the way, I think these higher rates show that there is no way government can stop a deflationary spiral. The more they muck with the market, the higher rates are going to go and the less credit that will ultimately be available. Less credit=deflation.

Rich would argue that the government can just cut everyone a check for $10 million, but there would be a massive taxpayer revolt if that happened. Household wealth has decreased $20 trillion in two years ( http://www.atimes.com/atimes/Global_Economy/KA23Dj07.html ) and there is starting to be some serious resistance to the paltry-in-comparison $800 billion stimulus that would be spent over the next two years.

There will also probably be some additional TARPs and other things that may amount to two or three trillion overall, but there is no way that the government is going to be able to keep up with the $10 trillion/year decline in household wealth.

Deflation here we come. I for one look forward to more reasonably priced goods and services. [/quote]

I agree. You know our economy has always been about 70% consumer driven as opposed to say, Japan where the consumer is a much lower % of gdp.

If consumers start to only spend on what they only have to have to live then we are talking big time deflation with grueling consquences for the next generation or so.

Something has to give this time. This is the worst mess the liberals have created by far.(g)

John

[jficquette]

[quote=TheBreeze]By the way, I think these higher rates show that there is no way government can stop a deflationary spiral. The more they muck with the market, the higher rates are going to go and the less credit that will ultimately be available. Less credit=deflation.

Rich would argue that the government can just cut everyone a check for $10 million, but there would be a massive taxpayer revolt if that happened. Household wealth has decreased $20 trillion in two years ( http://www.atimes.com/atimes/Global_Economy/KA23Dj07.html ) and there is starting to be some serious resistance to the paltry-in-comparison $800 billion stimulus that would be spent over the next two years.

There will also probably be some additional TARPs and other things that may amount to two or three trillion overall, but there is no way that the government is going to be able to keep up with the $10 trillion/year decline in household wealth.

Deflation here we come. I for one look forward to more reasonably priced goods and services. [/quote]

I agree. You know our economy has always been about 70% consumer driven as opposed to say, Japan where the consumer is a much lower % of gdp.

If consumers start to only spend on what they only have to have to live then we are talking big time deflation with grueling consquences for the next generation or so.

Something has to give this time. This is the worst mess the liberals have created by far.(g)

John

[jficquette]

[quote=TheBreeze]By the way, I think these higher rates show that there is no way government can stop a deflationary spiral. The more they muck with the market, the higher rates are going to go and the less credit that will ultimately be available. Less credit=deflation.

Rich would argue that the government can just cut everyone a check for $10 million, but there would be a massive taxpayer revolt if that happened. Household wealth has decreased $20 trillion in two years ( http://www.atimes.com/atimes/Global_Economy/KA23Dj07.html ) and there is starting to be some serious resistance to the paltry-in-comparison $800 billion stimulus that would be spent over the next two years.

There will also probably be some additional TARPs and other things that may amount to two or three trillion overall, but there is no way that the government is going to be able to keep up with the $10 trillion/year decline in household wealth.

Deflation here we come. I for one look forward to more reasonably priced goods and services. [/quote]

I agree. You know our economy has always been about 70% consumer driven as opposed to say, Japan where the consumer is a much lower % of gdp.

If consumers start to only spend on what they only have to have to live then we are talking big time deflation with grueling consquences for the next generation or so.

Something has to give this time. This is the worst mess the liberals have created by far.(g)

John

[jficquette]

[quote=TheBreeze]By the way, I think these higher rates show that there is no way government can stop a deflationary spiral. The more they muck with the market, the higher rates are going to go and the less credit that will ultimately be available. Less credit=deflation.

Rich would argue that the government can just cut everyone a check for $10 million, but there would be a massive taxpayer revolt if that happened. Household wealth has decreased $20 trillion in two years ( http://www.atimes.com/atimes/Global_Economy/KA23Dj07.html ) and there is starting to be some serious resistance to the paltry-in-comparison $800 billion stimulus that would be spent over the next two years.

There will also probably be some additional TARPs and other things that may amount to two or three trillion overall, but there is no way that the government is going to be able to keep up with the $10 trillion/year decline in household wealth.

Deflation here we come. I for one look forward to more reasonably priced goods and services. [/quote]

I agree. You know our economy has always been about 70% consumer driven as opposed to say, Japan where the consumer is a much lower % of gdp.

If consumers start to only spend on what they only have to have to live then we are talking big time deflation with grueling consquences for the next generation or so.

Something has to give this time. This is the worst mess the liberals have created by far.(g)

John

[Author]

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