U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
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Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#2I anticipate people misguidedly objecting to the 2008 comparison due to the traumatic baggage of that era.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#3This is last week's data, Mortgage News Daily has the 30 year at 7.08% today.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#4I anticipate people misguidedly objecting to the 2008 comparison due to the traumatic baggage of that era.
Wait until they see 2026. 10-14% mortgage (my prediction)
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#5I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#6I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
I might be in the minority, I liked Redfin as a broker / NAR competitor. Seeing houses was super easy, lower fees, etc. I'm well aware of tradeoffs in the industry and connections.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#7I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
Why root for the downfall of Redfin and the like? They were finally a lower cost alternative to the stranglehold that RE agents have had on sellers for decades.
Why should it cost 6% to sell a house?
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#8I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
> a few points of interest are not going to dissuade my decision
Perhaps not, but if you run the math you'll see a "few points" very quickly means you'll have to buy much less house than you may have desired.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#9I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
Imagine believing that Redfin has any influence on the U.S. homes market.
The U.S. home market is worth ~50 trillion dollars. There are > 1.3 million homes for sale at this moment.
Re: U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
#10I'm all for it. If this edges out the razor thin margins that Redfin et. al. were making on the US housing market, let's go. As a first time homebuyer who would like to purchase a place to live, a few points of interest are not going to dissuade my decision. But I have a strong feeling that the REIT market will pop like the bubble that it is once the financials start looking unfavorable.
Housing should not have been treated like stock market. But it was and now we have a lot of bag holders, just like there are bag holders in the stock market. The housing bag is a very expensive bag to hold.