Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
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Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#2I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#3"... for six to 18 months"
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#4I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
And no prepayment penalties, which means that if interest rates go down, you can refinance.
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#5I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
This lack of risk is exactly why prices are rationally so high. At least in other countries, they're irrationally high because people forgot about the risk of interest rate increases.
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#6I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
Can you imagine having such unexpected jumps in housing costs and not even owning your home? That would be way way worse
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#7I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
And no prepayment penalties, which means that if interest rates go down, you can refinance.
How does this work in the American economy? Why does anyone buy RMBS at such low yields for 30 years with the capital risk that the money could come back to you if rates move against you?
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#8I'm constantly reminded to be thankful to be a homeowner in America. Most other countries don't even have fixed-rate mortgages and many of my international friends are facing massive unexpected jumps in their monthly housing costs.
This lack of risk is exactly why prices are rationally so high. At least in other countries, they're ir rationally high because people forgot about the risk of interest rate increases.
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#9This is one of a few areas where having an MBA is actually useful. Interest rate risk and how things behave when interest rates are going up are good to know.
Re: Homebuyers must ‘learn to live’ with near-7% mortgage rates says RE/MAX chairman
#10“Real estate CEOs must `learn to live’ with lower sales, say resistant buyers”.
The amount I can pay each month hasn’t changed drastically. If interest payments to my credit union go up, then the principal payments I can make to a seller have go down. The price I can pay is less than it was a couple of years ago. That means your commissions will be dropping, too, Mr. Liniger. You’ll just have to live with it.