rates moving up fast

[Nor-LA-SD-guy]

[quote=flu][quote=martink110]I’m the opposite of most of you. Had a Wamu card 7.99% 12,000 limit balance at ~11,500. Wamu gets bought by Chase. My Wamu payment was always due on the 1/2/or 3rd of the month. I make my payment on the 1st. Chase changes my due date to the 28th?? so I’m “late” they jack up my rates to 20 something percent. I Go to BofA get a 0% CC(1 year) and transfer the balance :). Oh yah about 3 months ago BofA gave me a pesonal equity line for 20,000 @12.99%.
About the mortgage rates… geithner and that other person went to China, wonder what they’re taking about? “please buy more at lower rates.. we’ll give you x if you do. I expect short term for the rates to stabilize, if not go lower. Gotta keep the hope alive you know.[/quote]

Well, I recall about 1 year ago, some (not all)people wanted more affordable housing and were clamoring for “bring on the pain” of a recession and with that job losses so that home prices would come crashing down. Looks like we got exactly what bargain hunters wanted. Except…Mr. President, the middle class called. They want their jobs back at all costs.

[/quote]

I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.

On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).

[recordsclerk]

Rates for this week:

http://finance.yahoo.com/news/Mortgage-rates-above-5-pct-apf-15439335.html?sec=topStories&pos=1&asset=&ccode=

[recordsclerk]

Rates for this week:

http://finance.yahoo.com/news/Mortgage-rates-above-5-pct-apf-15439335.html?sec=topStories&pos=1&asset=&ccode=

[recordsclerk]

Rates for this week:

http://finance.yahoo.com/news/Mortgage-rates-above-5-pct-apf-15439335.html?sec=topStories&pos=1&asset=&ccode=

[recordsclerk]

Rates for this week:

http://finance.yahoo.com/news/Mortgage-rates-above-5-pct-apf-15439335.html?sec=topStories&pos=1&asset=&ccode=

[recordsclerk]

Rates for this week:

http://finance.yahoo.com/news/Mortgage-rates-above-5-pct-apf-15439335.html?sec=topStories&pos=1&asset=&ccode=

[Bob]

[quote] I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.[/quote]

Actually, rates are going up independent of what Bernanke wants, because at this point there is very little he can do other than continue to purchase US securities. As for the overall real estate market nationwide, well, it sucks. Unlike in California, most of the country has excessive inventory that continues to put downward pressure on housing prices.

[quote]On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).[/quote]

Depending on the market, what currently exists is a temporary stabilization of the market at the low end due to government intervention which has artificially reduced inventory. This is true throughout Southern California, but NOT true in markets like South Florida, where prices continue to drop significantly. As far as I know, the state of Florida did not impose any moratoriums as did California.

[Bob]

[quote] I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.[/quote]

Actually, rates are going up independent of what Bernanke wants, because at this point there is very little he can do other than continue to purchase US securities. As for the overall real estate market nationwide, well, it sucks. Unlike in California, most of the country has excessive inventory that continues to put downward pressure on housing prices.

[quote]On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).[/quote]

Depending on the market, what currently exists is a temporary stabilization of the market at the low end due to government intervention which has artificially reduced inventory. This is true throughout Southern California, but NOT true in markets like South Florida, where prices continue to drop significantly. As far as I know, the state of Florida did not impose any moratoriums as did California.

[Bob]

[quote] I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.[/quote]

Actually, rates are going up independent of what Bernanke wants, because at this point there is very little he can do other than continue to purchase US securities. As for the overall real estate market nationwide, well, it sucks. Unlike in California, most of the country has excessive inventory that continues to put downward pressure on housing prices.

[quote]On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).[/quote]

Depending on the market, what currently exists is a temporary stabilization of the market at the low end due to government intervention which has artificially reduced inventory. This is true throughout Southern California, but NOT true in markets like South Florida, where prices continue to drop significantly. As far as I know, the state of Florida did not impose any moratoriums as did California.

[Bob]

[quote] I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.[/quote]

Actually, rates are going up independent of what Bernanke wants, because at this point there is very little he can do other than continue to purchase US securities. As for the overall real estate market nationwide, well, it sucks. Unlike in California, most of the country has excessive inventory that continues to put downward pressure on housing prices.

[quote]On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).[/quote]

Depending on the market, what currently exists is a temporary stabilization of the market at the low end due to government intervention which has artificially reduced inventory. This is true throughout Southern California, but NOT true in markets like South Florida, where prices continue to drop significantly. As far as I know, the state of Florida did not impose any moratoriums as did California.

[Bob]

[quote] I actually think they will let rates rise a bit to cool things off, (now this is where I put on my tin foil hat), I think things are starting to take off a little sooner than the current administration wants as it kind of puts some of their plans (spread the wealth type of stuff) in a light as not being necessary maybe.[/quote]

Actually, rates are going up independent of what Bernanke wants, because at this point there is very little he can do other than continue to purchase US securities. As for the overall real estate market nationwide, well, it sucks. Unlike in California, most of the country has excessive inventory that continues to put downward pressure on housing prices.

[quote]On another note looks like TG and a few others are in good company as this Sam Zell guy seems to think we are at or close to a bottom in Residential RE as well (although he is not quite as local as TG).[/quote]

Depending on the market, what currently exists is a temporary stabilization of the market at the low end due to government intervention which has artificially reduced inventory. This is true throughout Southern California, but NOT true in markets like South Florida, where prices continue to drop significantly. As far as I know, the state of Florida did not impose any moratoriums as did California.

[Chris Scoreboard Johnston]

For what it’s worth, we are at the time of year when one of the most reliable seasonal patterns in the futures markets normally kicks in. This is the tendency for 30 yr Bond prices to rise, hence lowering rates. Although no seasonal pattern I know of has been right 100% of the time, this is one of the best and most consistently reliable patterns. I am looking to establish a long position there right now, just trying to dial in a pattern that confirms the seasonals. Commercials have been buying this decline as of the last month or so, which is an added bonus on the long side. Furthermore, the valuation of 30 yr bonds in relation to Gold shows them to be extremely undervalued, and sentiment is excessively bearish. This is a very good setup for a rally in this market.

For these reasons I expect to see a rally very soon in 30 Yr Bond prices.

[Chris Scoreboard Johnston]

For what it’s worth, we are at the time of year when one of the most reliable seasonal patterns in the futures markets normally kicks in. This is the tendency for 30 yr Bond prices to rise, hence lowering rates. Although no seasonal pattern I know of has been right 100% of the time, this is one of the best and most consistently reliable patterns. I am looking to establish a long position there right now, just trying to dial in a pattern that confirms the seasonals. Commercials have been buying this decline as of the last month or so, which is an added bonus on the long side. Furthermore, the valuation of 30 yr bonds in relation to Gold shows them to be extremely undervalued, and sentiment is excessively bearish. This is a very good setup for a rally in this market.

For these reasons I expect to see a rally very soon in 30 Yr Bond prices.

[Chris Scoreboard Johnston]

For what it’s worth, we are at the time of year when one of the most reliable seasonal patterns in the futures markets normally kicks in. This is the tendency for 30 yr Bond prices to rise, hence lowering rates. Although no seasonal pattern I know of has been right 100% of the time, this is one of the best and most consistently reliable patterns. I am looking to establish a long position there right now, just trying to dial in a pattern that confirms the seasonals. Commercials have been buying this decline as of the last month or so, which is an added bonus on the long side. Furthermore, the valuation of 30 yr bonds in relation to Gold shows them to be extremely undervalued, and sentiment is excessively bearish. This is a very good setup for a rally in this market.

For these reasons I expect to see a rally very soon in 30 Yr Bond prices.

[Chris Scoreboard Johnston]

For what it’s worth, we are at the time of year when one of the most reliable seasonal patterns in the futures markets normally kicks in. This is the tendency for 30 yr Bond prices to rise, hence lowering rates. Although no seasonal pattern I know of has been right 100% of the time, this is one of the best and most consistently reliable patterns. I am looking to establish a long position there right now, just trying to dial in a pattern that confirms the seasonals. Commercials have been buying this decline as of the last month or so, which is an added bonus on the long side. Furthermore, the valuation of 30 yr bonds in relation to Gold shows them to be extremely undervalued, and sentiment is excessively bearish. This is a very good setup for a rally in this market.

For these reasons I expect to see a rally very soon in 30 Yr Bond prices.

[Author]

Posts