rates moving up fast

[scaredyclassic]

i was trying to explain to a relative why low rates were irritating me and delaying my purchase but i couldn’t quite articulate it as well as you guys. I see that super low interest rate and think, screw them, i’m just going to keep saving money a few more years(in gold, silver and oil, not in those dollar bills they keep doubling and redoubling) and wait for mortgage rates to hit double digits. or at least head in that direction…you cannot redouble your actual gold holdings with a stroke of the keyboard…

[fishsticks]

Interesting blog post from Mish:

http://globaleconomicanalysis.blogspot.com/2009/05/mortgage-market-locks-up.html

[fishsticks]

Interesting blog post from Mish:

http://globaleconomicanalysis.blogspot.com/2009/05/mortgage-market-locks-up.html

[fishsticks]

Interesting blog post from Mish:

http://globaleconomicanalysis.blogspot.com/2009/05/mortgage-market-locks-up.html

[fishsticks]

Interesting blog post from Mish:

http://globaleconomicanalysis.blogspot.com/2009/05/mortgage-market-locks-up.html

[fishsticks]

Interesting blog post from Mish:

http://globaleconomicanalysis.blogspot.com/2009/05/mortgage-market-locks-up.html

[(former)FormerSanDiegan]

[quote=IONEGARM][quote=FormerSanDiegan]Sometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon) [/quote]

You see this when the FED is acting.. the punch is telegraphed on the news nightly and the masses confuse fed rates with mortgage interest rates so they rush and lock before the rates go up.

But when the bond market spikes and rate sheets go up with no notice.. the horse is already out of the barn and people who could have had 4.75% but wanted 4.5% are left out in the cold.

[/quote]

Excellent point IONEGARM. I think the phenomenon I described happens often when the FED raises rate. In that case it is also not usually a logical response.

[(former)FormerSanDiegan]

[quote=IONEGARM][quote=FormerSanDiegan]Sometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon) [/quote]

You see this when the FED is acting.. the punch is telegraphed on the news nightly and the masses confuse fed rates with mortgage interest rates so they rush and lock before the rates go up.

But when the bond market spikes and rate sheets go up with no notice.. the horse is already out of the barn and people who could have had 4.75% but wanted 4.5% are left out in the cold.

[/quote]

Excellent point IONEGARM. I think the phenomenon I described happens often when the FED raises rate. In that case it is also not usually a logical response.

[(former)FormerSanDiegan]

[quote=IONEGARM][quote=FormerSanDiegan]Sometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon) [/quote]

You see this when the FED is acting.. the punch is telegraphed on the news nightly and the masses confuse fed rates with mortgage interest rates so they rush and lock before the rates go up.

But when the bond market spikes and rate sheets go up with no notice.. the horse is already out of the barn and people who could have had 4.75% but wanted 4.5% are left out in the cold.

[/quote]

Excellent point IONEGARM. I think the phenomenon I described happens often when the FED raises rate. In that case it is also not usually a logical response.

[(former)FormerSanDiegan]

[quote=IONEGARM][quote=FormerSanDiegan]Sometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon) [/quote]

You see this when the FED is acting.. the punch is telegraphed on the news nightly and the masses confuse fed rates with mortgage interest rates so they rush and lock before the rates go up.

But when the bond market spikes and rate sheets go up with no notice.. the horse is already out of the barn and people who could have had 4.75% but wanted 4.5% are left out in the cold.

[/quote]

Excellent point IONEGARM. I think the phenomenon I described happens often when the FED raises rate. In that case it is also not usually a logical response.

[(former)FormerSanDiegan]

[quote=IONEGARM][quote=FormerSanDiegan]Sometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon) [/quote]

You see this when the FED is acting.. the punch is telegraphed on the news nightly and the masses confuse fed rates with mortgage interest rates so they rush and lock before the rates go up.

But when the bond market spikes and rate sheets go up with no notice.. the horse is already out of the barn and people who could have had 4.75% but wanted 4.5% are left out in the cold.

[/quote]

Excellent point IONEGARM. I think the phenomenon I described happens often when the FED raises rate. In that case it is also not usually a logical response.

[peterb]

When this current euphoria blows out under the amazing weight of reality, rates will probably decline again. Growing unemployment, pay cuts and reduced spending have not gone away. People are not getting jobs and credit is still constricting.

[peterb]

When this current euphoria blows out under the amazing weight of reality, rates will probably decline again. Growing unemployment, pay cuts and reduced spending have not gone away. People are not getting jobs and credit is still constricting.

[peterb]

When this current euphoria blows out under the amazing weight of reality, rates will probably decline again. Growing unemployment, pay cuts and reduced spending have not gone away. People are not getting jobs and credit is still constricting.

[peterb]

When this current euphoria blows out under the amazing weight of reality, rates will probably decline again. Growing unemployment, pay cuts and reduced spending have not gone away. People are not getting jobs and credit is still constricting.

[Author]

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