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DWCAP
Participant[quote=FormerSanDiegan]DWCAP –
This is a very short term effect and I would expect it to be followed by a slack in demand. Net effect would be a shift in demand forward by a month or two. Yes, there is pressure for those making offers now or in escrow to close before rates spike higher.People who have been in the market and may have made several offers and have already made a decision to buy are the ones I refer to. Those who are planning to buy in 3-6 months or more in the future are probably more compelled to hold off because of a spike in rates.
Anyway, its just an opinion, based on anecdotal evidence and hearsay.
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FSD, well written as usual. I agree.
ParticipantI am guessing 6.5% was a mistake that should have read about 5.5%. THe day before it was 5.07%. A point and a half seems like too much for a 1 day move. Hell the 10 year is 3.7 or so, that say 5.4-5.7, not 6.5.
Still, 5.7 is alot higher than 4.7.
ParticipantI am guessing 6.5% was a mistake that should have read about 5.5%. THe day before it was 5.07%. A point and a half seems like too much for a 1 day move. Hell the 10 year is 3.7 or so, that say 5.4-5.7, not 6.5.
Still, 5.7 is alot higher than 4.7.
ParticipantI am guessing 6.5% was a mistake that should have read about 5.5%. THe day before it was 5.07%. A point and a half seems like too much for a 1 day move. Hell the 10 year is 3.7 or so, that say 5.4-5.7, not 6.5.
Still, 5.7 is alot higher than 4.7.
ParticipantI am guessing 6.5% was a mistake that should have read about 5.5%. THe day before it was 5.07%. A point and a half seems like too much for a 1 day move. Hell the 10 year is 3.7 or so, that say 5.4-5.7, not 6.5.
Still, 5.7 is alot higher than 4.7.
ParticipantI am guessing 6.5% was a mistake that should have read about 5.5%. THe day before it was 5.07%. A point and a half seems like too much for a 1 day move. Hell the 10 year is 3.7 or so, that say 5.4-5.7, not 6.5.
Still, 5.7 is alot higher than 4.7.
ParticipantI dont know FSD, I think it would be pretty hard to get a larger bump then was created by the 4.5% rates. IMO any crazyness to close will be ofset by the people who dropout cause they cant get unbelieveably good rates. Inventory sucks and prices are still falling; why buy a house you dont really like for an ok price just so you can get an ok interest rate? But maybe that is what you ment, increasing rate pressures will be met with increased desire to close NOW.
SD_R, I think youll be right if they hit 6% or so. Alot of people will step aside, theyll wait for the next waste of taxpayer money, or increased inflation, to buy down their morgages.
But what are you seeing? Do any of your clients seem to care?
ParticipantI dont know FSD, I think it would be pretty hard to get a larger bump then was created by the 4.5% rates. IMO any crazyness to close will be ofset by the people who dropout cause they cant get unbelieveably good rates. Inventory sucks and prices are still falling; why buy a house you dont really like for an ok price just so you can get an ok interest rate? But maybe that is what you ment, increasing rate pressures will be met with increased desire to close NOW.
SD_R, I think youll be right if they hit 6% or so. Alot of people will step aside, theyll wait for the next waste of taxpayer money, or increased inflation, to buy down their morgages.
But what are you seeing? Do any of your clients seem to care?
ParticipantI dont know FSD, I think it would be pretty hard to get a larger bump then was created by the 4.5% rates. IMO any crazyness to close will be ofset by the people who dropout cause they cant get unbelieveably good rates. Inventory sucks and prices are still falling; why buy a house you dont really like for an ok price just so you can get an ok interest rate? But maybe that is what you ment, increasing rate pressures will be met with increased desire to close NOW.
SD_R, I think youll be right if they hit 6% or so. Alot of people will step aside, theyll wait for the next waste of taxpayer money, or increased inflation, to buy down their morgages.
But what are you seeing? Do any of your clients seem to care?
ParticipantI dont know FSD, I think it would be pretty hard to get a larger bump then was created by the 4.5% rates. IMO any crazyness to close will be ofset by the people who dropout cause they cant get unbelieveably good rates. Inventory sucks and prices are still falling; why buy a house you dont really like for an ok price just so you can get an ok interest rate? But maybe that is what you ment, increasing rate pressures will be met with increased desire to close NOW.
SD_R, I think youll be right if they hit 6% or so. Alot of people will step aside, theyll wait for the next waste of taxpayer money, or increased inflation, to buy down their morgages.
But what are you seeing? Do any of your clients seem to care?
ParticipantI dont know FSD, I think it would be pretty hard to get a larger bump then was created by the 4.5% rates. IMO any crazyness to close will be ofset by the people who dropout cause they cant get unbelieveably good rates. Inventory sucks and prices are still falling; why buy a house you dont really like for an ok price just so you can get an ok interest rate? But maybe that is what you ment, increasing rate pressures will be met with increased desire to close NOW.
SD_R, I think youll be right if they hit 6% or so. Alot of people will step aside, theyll wait for the next waste of taxpayer money, or increased inflation, to buy down their morgages.
But what are you seeing? Do any of your clients seem to care?
ParticipantNah, the rally will run till this fall unless rates significantly break 6%+ and sustain it. I think itll just mean the rally will cool faster and more this fall than it would have if rates had stayed crazy. But the watercooler talk will circulate for another two or three months or so.
ParticipantNah, the rally will run till this fall unless rates significantly break 6%+ and sustain it. I think itll just mean the rally will cool faster and more this fall than it would have if rates had stayed crazy. But the watercooler talk will circulate for another two or three months or so.
ParticipantNah, the rally will run till this fall unless rates significantly break 6%+ and sustain it. I think itll just mean the rally will cool faster and more this fall than it would have if rates had stayed crazy. But the watercooler talk will circulate for another two or three months or so.
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