Interest rates are nuts

[Rust_Cohle]

Last week they were around 6% - 6.3% for a 30 year mortgage, past couple days finally dipped below 6% tonight I'm looking again they're up to 6.5%. My realtor was forecasting they would drop down to 5.2% end of the year but I don't even think he will hit his 5.6% for this quarter. Would be nice to have a drop end of the year

 

[The Irish Ram]

It all depends on how hard the Fed Reserve wants to shut our economy down by raising rates...

 

[Rust_Cohle]

It all depends on how hard the Fed Reserve wants to shut our economy down by raising rates...

Yep. And them raising it isn't helping me a bit

 

[jotathought]

Yep. And them raising it isn't helping me a bit

Sure it is .. it discourages the securing of funds .. cash .. to inject into the economy. It makes money harder to obtain .. thus combating inflation.

 

[MarathonMike]

The complete ineptitude of the Fed is on full display. Everyone with common sense knew that when you dump 4 trillion dollars of funny money into the economy, it's going to overheat. Jay Powell and his clown posse refused to start bringing interest rates up slowly which was the rational thing to do. They have one job and they screwed the pooch.

 

[Rust_Cohle]

Sure it is .. it discourages the securing of funds .. cash .. to inject into the economy. It makes money harder to obtain .. thus combating inflation.

Lower the rates more I can sell for and better rates for the next place I get means less on a new mortgage

 

[Woodznutz]

Last week they were around 6% - 6.3% for a 30 year mortgage, past couple days finally dipped below 6% tonight I'm looking again they're up to 6.5%. My realtor was forecasting they would drop down to 5.2% end of the year but I don't even think he will hit his 5.6% for this quarter. Would be nice to have a drop end of the year

I would have killed for those rates when I bought my rental property back in the 1990's.

 

[Harpy Eagle]

I would have killed for those rates when I bought my rental property back in the 1990's.

Yeah, we got spoiled with the rates staying way too low for too long.

 

[Woodznutz]

Yeah, we got spoiled with the rates staying way too low for too long.

Low rates also hurt savings, especially retirees.

 

[abu afak]

Last week they were around 6% - 6.3% for a 30 year mortgage, past couple days finally dipped below 6% tonight I'm looking again they're up to 6.5%. My realtor was forecasting they would drop down to 5.2% end of the year but I don't even think he will hit his 5.6% for this quarter. Would be nice to have a drop end of the year

No. Interest rates have returned to NORMAL/Near Normal after 10 years of false low rates due to the FED's subsidization.
`

 

[Harpy Eagle]

No. Interest rates have returned to NORMAL/Near Normal after 10 years of false low rates due to the FED's subsidization.
`

Yep....people have short memories.

 

[Rust_Cohle]

Yep....people have short memories.

View attachment 776649

Or some of us didn't buy our first house til the 2010s. Still though you sound just like my dad going on about 10% rates when his house cost 50k

 

[HeyNorm]

Bought my first home at 7.2%. Everyone wanted to know how I got such a low rate. Lol.

What amazes me is that people still with adjustable rate mortgages.

 

[HeyNorm]

Or some of us didn't buy our first house til the 2010s. Still though you sound just like my dad going on about 10% rates when his house cost 50k

High interests rates drive home prices down. Low interest rates drive home prices up.

 

[Harpy Eagle]

Or some of us didn't buy our first house til the 2010s. Still though you sound just like my dad going on about 10% rates when his house cost 50k

Glad to know your dad has a sense of history even if you do not.

Those low rates you want back contributed to the inflation you whine about today.

 

[Rust_Cohle]

Glad to know your dad has a sense of history even if you do not.

Those low rates you want back contributed to the inflation you whine about today.

Jackass 10% interest on 50k is what?

7% interest on 300k is what?

 

[HeyNorm]

Jackass 10% interest on 50k is what?

7% interest on 300k is what?

The 300k would have been 200k if interest rates weren’t allowed to be so low for so long.

 

[Harpy Eagle]

The 300k would have been 200k if interest rates weren’t allowed to be so low for so long.

This is a fact.

 

[Harpy Eagle]

Jackass 10% interest on 50k is what?

7% interest on 300k is what?

You are just one of those folks that want it all. You do not seem to understand how economies work

 

[Rust_Cohle]

You are just one of those folks that want it all. You do not seem to understand how economies work

And you seem to be dodging my question again