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(former)FormerSanDiegan
ParticipantI would recommend Rudy Theobald. 619-804-RUDY (7839)
I have bought/sold with him several time (3 times in Bay Park). If you want someone who follows through, pays attention to details, who has seen it all, and has intimate knowledge of the area, he is your guy.
I’ve known him for about a decade.Participant[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.
Participant[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.
Participant[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.
Participant[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.
Participant[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.
ParticipantDWCAP –
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.
ParticipantDWCAP –
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.
ParticipantDWCAP –
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.
ParticipantDWCAP –
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.
ParticipantDWCAP –
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.
ParticipantSometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon)
ParticipantSometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon)
ParticipantSometimes a smallish, e.g. 1/2 point, increase in rates can create a sense of urgency to buy now versus later (short-term phenomenon)
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