Well, considering mortgage rates are shooting up after Trump’s election, it looks like he may be the factor to finally deflate prices a bit.
It’s nice for me that at least rates are finally higher than my most recent refi, so I can fell good that my rate is lower than what other people are getting now! But it does mean that the price on paper of my house estimate has stopped going up.
[quote=poorgradstudent]Well, considering mortgage rates are shooting up after Trump’s election, it looks like he may be the factor to finally deflate prices a bit.
It’s nice for me that at least rates are finally higher than my most recent refi, so I can fell good that my rate is lower than what other people are getting now! But it does mean that the price on paper of my house estimate has stopped going up.[/quote]
Well, now rates are more or less back up to when we purchased 2 years ago! Looks like our most recent refi may have caught the true bottom.
Rates are up from this summer when they were at/near 5-year lows, but are slightly below rates 12 months ago and well below what they were during the huge 2013-2014 bull run (not to mention well below the rates during the big bubble).
I’ll be worried if they go above the 4.3-4.5% range of July 2013 to May 2014. Not too worried though, I am locked in for 30 years with payments well below rents.
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