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That is a misleading article IMO. Average time on the market is way up across the country except for some very hot areas.Forty-Eight Percent of Homes Sold in April Under Contract Within Two Weeks
According to new research from Redfin, the historic drop in active listings due to the “lock-in” eff...
Weird but not so much when you consider low inventory.....Looks like the bidding wars are on again as folks try to lock in a rate before the fed fucks them again.
All "average homes" (<300K) in my AO are being snapped-up by speculators for $2100 a month rentals.
A friend of mine just sold her house for $70,000 over the listing price….two days after it went on the market.Forty-Eight Percent of Homes Sold in April Under Contract Within Two Weeks
According to new research from Redfin, the historic drop in active listings due to the “lock-in” eff...
Weird but not so much when you consider low inventory.....Looks like the bidding wars are on again as folks try to lock in a rate before the fed fucks them again.
All "average homes" (<300K) in my AO are being snapped-up by speculators for $2100 a month rentals.
What‘s wrong with a fixed-rate mortgage? You lock in the rate, and if rates go up, yay….if they drop, you refinance. I’ve done it a number of times over the course of the 30+ years I’ve owned property.Laughs in fixed-rate mortgage.
What‘s wrong with a fixed-rate mortgage? You lock in the rate, and if rates go up, yay….if they drop, you refinance. I’ve done it a number of times over the course of the 30+ years I’ve owned property.
There is some back and forth on the refi issue. While it can definitely be a boon in many cases, in many more, simply increasing your monthly payment accomplishes the same thing on a fixed mortgage--without having to pay the bank's loan origination fees and discount points, etc. on the refi. Certainly, it does not reduce your interest rate, but it effectively reduces the term of the loan and the basis for interest each successive month.What‘s wrong with a fixed-rate mortgage? You lock in the rate, and if rates go up, yay….if they drop, you refinance. I’ve done it a number of times over the course of the 30+ years I’ve owned property.
Yes, true. The other thing is that if you are far along in your mortgage and the bulk of your payment is going toward principal, refinancing will get you a lower payment and interest rate, but most of your new payment will be going to interest and you will slow down the rate you build equity. Most people, as you know, only think of what their monthly cost is.There is some back and forth on the refi issue. While it can definitely be a boon in many cases, in many more, simply increasing your monthly payment accomplishes the same thing on a fixed mortgage--without having to pay the bank's loan origination fees and discount points, etc. on the refi. Certainly, it does not reduce your interest rate, but it effectively reduces the term of the loan and the basis for interest each successive month.
To be honest I thought the same thing till I checked around. I think the near 6.50% interest rate lit a fire under some asses.....That is why I said it was weird because not a month ago I would have fully agreed with you.That is a misleading article IMO. Average time on the market is way up across the country except for some very hot areas.
