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an
Participant[quote=sdrealtor][quote=deadzone][quote=sdrealtor][quote=deadzone][quote=sdrealtor]Mortgage still available at 4.25% on a national level. 10/1 ARM much lower!
Operators are standing by![/quote]Not for long[/quote]
Don’t make haste! Limited time offer! Opportunity of a lifetime![/quote]
30yr fixed up to 4.95% according to MND.
Better jump on it quick. Opportunity of a Lifetime![/quote]Sorry locked in at 2.625% which was TRULY the GOOAL missed by you!!![/quote]
I missed that absolute bottom as well, but luckily, I was able to locked in @3.125% for 30 years. Based on deadzone, I’m almost 2% below current rate, yay!ParticipantWe will never be LA and I don’t want us to. Traffic is the downside of growth, but the upside is food, diversity, entertainment, and opportunity (quantity of jobs, quality of jobs, and higher paying jobs).
Also, the reason I love to live here is the weather and it won’t be affected by growth. So, I welcome it wholeheartedly.
ParticipantJust to name a few. As they expand, these big tech will drive up the salary, like they did in the bay.
Participant.
Participant[quote=Coronita]…Again, the only person you are arguing with is yourself.
Hope it’s worth it for you.[/quote]
Yep, which is why I keep staying strawman…Participant[quote=sdrealtor][quote=limkotir]Does anyone have historical data that highlights the correlation and causation effect of high interest rates to San Diego home sales volume and price. Maybe overlay interest rate over one of Rich’s graphs.
Simply put: how does high rate (e.g. 6% 30 year mortgage) affect sales volume, and sale price?
Home prices, like many complex real world Y-variable on a mathematical equation, probably are impacted by a handful of dynamic X variables (X1…X2…X3…etc.), it probably is never that simple and straight forward if X1 happens (interest rate), then Y will occur (sales price).
Looking to get educated by the smarter and more educated folks here! Thanks.[/quote]
The challenge with that approach is rates dont rise in a vacuum. Often they rise in a booming economy or with inflation which is bullish for home prices.[/quote]
Exactly, which is why I keep on bringing up the 70s, because that gives us an extreme where rate went up drastically and housing price went up drastically too. So, I see no causation between rate vs prices.Participant[quote=Coronita]https://www.cnn.com/2022/03/24/business/blackrock-globalization/index.html
End of globalization… Good news for engineers.
Chip fab coming back to the U.S. Yeah!
https://finance.yahoo.com/news/1-nvidia-ceo-says-interested-160433287.html
National Security Concerns
https://finance.yahoo.com/video/intel-micron-ceos-testify-congress-154254102.htmlPretty healthy demand still reported from TSM
https://finance.yahoo.com/news/tsmc-sees-demand-spike-auto-171542825.html%5B/quote%5D
Fake news…Participant[quote=deadzone]Rates are UP across the board, and only going higher. There is no example for any type of loan, for any city, that rates have not gone up substantially in the last few months.[/quote]
StrawmanParticipant[quote=deadzone]For you apparently. Like SDR perhaps math isn’t your strong suit. Do you also dispute that interest rates are going up? Who cares if SD rates are slightly lower or higher than the national average, that is irrelevant. They are going up everywhere at roughly the same rate. SDR thinks SD is isolated in some type of a utopian economic bubble. Sorry it doesn’t work that way. Everything is connected to the Fed.[/quote]
Nope, just you. No one ever said rates in San Diego is lower. You obviously have no idea what goes into getting a particular rate.Participant[quote=deadzone][quote=sdrealtor]
You are correct and of course I knew that and was just working over deadzone because it’s yet another example of how he does not understand in the slightest how real estate works. For that matter no one buys an average house or takes out an average mortgage. Average rates quoted on a site like that are for the country not here. The quality of borrower here is generally substantially higher than most places. The loans are also much bigger While still in the conventional range so the rates /fees are lower.[/quote]Ok got it, so interest rates aren’t going up in San Diego?[/quote]
Reading comprehension is toughParticipant[quote=XBoxBoy]
I suspect that deadzone is quoting the rate listed on Mortgage News Daily. https://www.mortgagenewsdaily.com/3/23/2020 the stated rate is 4.68%. Keep in mind that is an average for loans available yesterday. When sdrealtor quotes that a client just closed at such and such, that loan was started a month or more ago when rates were lower. And with points you can always lower your rate.
From my experience Mortgage news daily is well worth following if you want to see what rates are doing. The question/issue isn’t what rates are today, the question is how will these increased rates impact real estate. So far inventory numbers tell me the answer is not so much. Of course, maybe it’s too soon to tell.[/quote]
It’s not just points that can change the rate, loan amount and credit score play a huge role as well. I just checked 30 years fixed if I would refi today and I’m seeing rates @ 4% with 0 point.
Go here and check for yourself: https://www.zillow.com/mortgage-rates/Just like in real estate, you don’t buy an average house, you buy a house. Same goes for loan, you don’t get an average loan, you get a loan (based on your condition).
ParticipantThere’s currently only 2 houses for sale in Mira Mesa right now. I don’t think I’ve ever seen inventory this low in the spring.
Participant[quote=deadzone]Man what’s your fascination with the 70s dude? That level of inflation would decimate the finances of the majority of the population.[/quote]
As Coronita like to say, not my problem. BTW, I did well and took advantage GOOAL during the last major crash. So, I’ll be super happy with that too. However, I’ll be making even more if we see the repeat of the 70s. Since I already experienced a crash, I want to experience stagflation next.Participant[quote=deadzone][quote=an]Dude, I can’t compete with all those peeps and their $$$! 2008 needs to happen again so that way everyone is miserable and has no job.[/quote]
Don’t worry, higher interest rates will pop the bubble just like they did in mid-2000s. Never in history has the economy been so dependent on near zero interest rates and Fed manipulating the markets (by literally printing money to purchase mortgage debt). If the Fed actually follows through on their words, it is game over. (Big If I know).
SDR doesn’t understand the mechanics of our Fed based economy, he’s too busy snooping on people’s linkedin profiles. Creepy MFer.[/quote]I’m not worried. I would much rather we repeat the 70s and housing goes up 5-10x and savings rate goes up to 10%.
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