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sreeb
ParticipantI’m pretty convinced that our government will successfully prop up the market so long as interest rates and inflation remain low.
I wouldn’t buy now with cash.
But it sounds like you were borrowing with a 30 fixed and minimal down. I don’t think you are going to get a better price/loan package.
And even if you haven’t timed the best possible buy point, you don’t want the next 10 years of you life to be consumed with shopping for real estate.
sreeb
ParticipantI’m pretty convinced that our government will successfully prop up the market so long as interest rates and inflation remain low.
I wouldn’t buy now with cash.
But it sounds like you were borrowing with a 30 fixed and minimal down. I don’t think you are going to get a better price/loan package.
And even if you haven’t timed the best possible buy point, you don’t want the next 10 years of you life to be consumed with shopping for real estate.
sreeb
ParticipantI’m pretty convinced that our government will successfully prop up the market so long as interest rates and inflation remain low.
I wouldn’t buy now with cash.
But it sounds like you were borrowing with a 30 fixed and minimal down. I don’t think you are going to get a better price/loan package.
And even if you haven’t timed the best possible buy point, you don’t want the next 10 years of you life to be consumed with shopping for real estate.
sreeb
ParticipantI’m pretty convinced that our government will successfully prop up the market so long as interest rates and inflation remain low.
I wouldn’t buy now with cash.
But it sounds like you were borrowing with a 30 fixed and minimal down. I don’t think you are going to get a better price/loan package.
And even if you haven’t timed the best possible buy point, you don’t want the next 10 years of you life to be consumed with shopping for real estate.
sreeb
ParticipantI’m pretty convinced that our government will successfully prop up the market so long as interest rates and inflation remain low.
I wouldn’t buy now with cash.
But it sounds like you were borrowing with a 30 fixed and minimal down. I don’t think you are going to get a better price/loan package.
And even if you haven’t timed the best possible buy point, you don’t want the next 10 years of you life to be consumed with shopping for real estate.
February 12, 2011 at 3:11 PM in reply to: LA Times: Option ARMs pose threat to housing market #665368sreeb
ParticipantBanks can sit on foreclosures forever IF they can get free money from the government. They won’t be able to sit on them if rates rise.
Rates will rise. I don’t know when but in the end, they can’t be manipulated forever.
February 12, 2011 at 3:11 PM in reply to: LA Times: Option ARMs pose threat to housing market #665430sreeb
ParticipantBanks can sit on foreclosures forever IF they can get free money from the government. They won’t be able to sit on them if rates rise.
Rates will rise. I don’t know when but in the end, they can’t be manipulated forever.
February 12, 2011 at 3:11 PM in reply to: LA Times: Option ARMs pose threat to housing market #666030sreeb
ParticipantBanks can sit on foreclosures forever IF they can get free money from the government. They won’t be able to sit on them if rates rise.
Rates will rise. I don’t know when but in the end, they can’t be manipulated forever.
February 12, 2011 at 3:11 PM in reply to: LA Times: Option ARMs pose threat to housing market #666166sreeb
ParticipantBanks can sit on foreclosures forever IF they can get free money from the government. They won’t be able to sit on them if rates rise.
Rates will rise. I don’t know when but in the end, they can’t be manipulated forever.
February 12, 2011 at 3:11 PM in reply to: LA Times: Option ARMs pose threat to housing market #666500sreeb
ParticipantBanks can sit on foreclosures forever IF they can get free money from the government. They won’t be able to sit on them if rates rise.
Rates will rise. I don’t know when but in the end, they can’t be manipulated forever.
February 12, 2011 at 1:26 PM in reply to: LA Times: Option ARMs pose threat to housing market #665348sreeb
ParticipantTime goes on. Option ARMs continue to ripen. So have hybrid 1, 3, and 5 years ARMs. I doubt most homeowners have been be able to refinance as either they or their residence won’t qualify.
So far ARM issues have largely out of sight as their index rates have been held at record lows.
This could change radically if interest rates rise which is seeming more likely as price inflation seems to be taking hold and the dollars credit rating continues to deteriorate.
Does anyone have a source for what percentage of current mortgages are now operating in ARM mode?
February 12, 2011 at 1:26 PM in reply to: LA Times: Option ARMs pose threat to housing market #665410sreeb
ParticipantTime goes on. Option ARMs continue to ripen. So have hybrid 1, 3, and 5 years ARMs. I doubt most homeowners have been be able to refinance as either they or their residence won’t qualify.
So far ARM issues have largely out of sight as their index rates have been held at record lows.
This could change radically if interest rates rise which is seeming more likely as price inflation seems to be taking hold and the dollars credit rating continues to deteriorate.
Does anyone have a source for what percentage of current mortgages are now operating in ARM mode?
February 12, 2011 at 1:26 PM in reply to: LA Times: Option ARMs pose threat to housing market #666010sreeb
ParticipantTime goes on. Option ARMs continue to ripen. So have hybrid 1, 3, and 5 years ARMs. I doubt most homeowners have been be able to refinance as either they or their residence won’t qualify.
So far ARM issues have largely out of sight as their index rates have been held at record lows.
This could change radically if interest rates rise which is seeming more likely as price inflation seems to be taking hold and the dollars credit rating continues to deteriorate.
Does anyone have a source for what percentage of current mortgages are now operating in ARM mode?
February 12, 2011 at 1:26 PM in reply to: LA Times: Option ARMs pose threat to housing market #666146sreeb
ParticipantTime goes on. Option ARMs continue to ripen. So have hybrid 1, 3, and 5 years ARMs. I doubt most homeowners have been be able to refinance as either they or their residence won’t qualify.
So far ARM issues have largely out of sight as their index rates have been held at record lows.
This could change radically if interest rates rise which is seeming more likely as price inflation seems to be taking hold and the dollars credit rating continues to deteriorate.
Does anyone have a source for what percentage of current mortgages are now operating in ARM mode?
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