Thanks Biden/Harris

[struth]

Cute. You’re pretending to have any understanding of the issue.

What’s the issue?

Or are you gonna shoot someone?)

 

[lafayette]

It’s harris/xiden’s fault interest rates have skyrocketed

Well to be fair it’s the entire demafacist party’s fault

Hence why a record number of Americans are worse off since harris was elected to VP

There are no sky rocketing interest rates. Yields are falling, and loan rates are falling.

What world are you in?

 

[lafayette]

jc456, pay your ARM without complaint.

 

[struth]

There are no sky rocketing interest rates. Yields are falling, and loan rates are falling.

What world are you in?

What? Interest rates are at a level the haven’t been in decades

 

[IDIOCRACY]

Mortgage rates set to soar for over 100,000 Americans

Thousands of homeowners who used adjustable-rate mortgage loans are set to see their payments increase.

www.newsweek.com

Way to make life less affordable. Luckily I am locked in at 2.66%. 20 yr fixed.

Whew

MA is expensive

Glad you're locked in. Thanks to the housing crash I used ARMs to pay my loan off early. Lucky me too, my last payment was 2021.

 

[IDIOCRACY]

ARM are stupid. I don't know why anyone would get one.

You a leftist by chance? Please tell me you're not right, you'll make us look bad I saved many 10s of thousands BECAUSE OF ARMS, beginning 2002, ending 2021, on my house. Takes discipline, and thinking outside the box.

That said, I wouldn't ever get one where there's high exposure (i.e., BIG outstanding you can never afford if things go south). Plenty of people have done that, ever hear of the housing crash?

 

[lafayette]

What? Interest rates are at a level the haven’t been in decades

You are on iggy for this thread.

 

[struth]

You are on iggy for this thread.

What is that?

 

[Captain Caveman]

Mortgage rates set to soar for over 100,000 Americans

Thousands of homeowners who used adjustable-rate mortgage loans are set to see their payments increase.

www.newsweek.com

Way to make life less affordable. Luckily I am locked in at 2.66%. 20 yr fixed.

Whew

MA is expensive

My eldest son was going to buy his first house (UK) and he asked for advice. I told him -

1) Always get a repayment mortgage, never attached to the stock market etc.., and never get an interest only one

2) When the bank calculate what mortgage you can afford, make sure it's calculated with an interest rate at 15%. It has been that high once before.

3) Then protect your capital, put the smallest deposit down that you can.

So his mortgage deal can end in the future, the interest rates can go silly etc.., and he'll always live within his means. When people in the news were in tears because they could no longer afford their mortgage, I just shook my head.

 

[AzogtheDefiler]

My eldest son was going to buy his first house (UK) and he asked for advice. I told him -

1) Always get a repayment mortgage, never attached to the stock market etc.., and never get an interest only one

2) When the bank calculate what mortgage you can afford, make sure it's calculated with an interest rate at 15%. It has been that high once before.

3) Then protect your capital, put the smallest deposit down that you can.

So his mortgage deal can end in the future, the interest rates can go silly etc.., and he'll always live within his means. When people in the news were in tears because they could no longer afford their mortgage, I just shook my head.

Makes sense. Good advice

 

[Captain Caveman]

AzogtheDefiler and as my son has spare disposable income because the interest rate is far much lower than 15%, he found out off the bank how much of the mortgage he can over pay per month without being penalised, so he's doing that too. If interest rates creep up or when his deal ends, he can reduce or stop those extra payments. So he's hoping to wipe a few years off his 25 year mortgage by doing that.

 

[AzogtheDefiler]

AzogtheDefiler and as my son has spare disposable income because the interest rate is far much lower than 15%, he found out off the bank how much of the mortgage he can over pay per month without being penalised, so he's doing that too. If interest rates creep up or when his deal ends, he can reduce or stop those extra payments. So he's hoping to wipe a few years off his 25 year mortgage by doing that.

Very smart. Interestingly I locked my mortgage in at 2.66%. No rush to pay it off since the rate is so low. If I were at 7.6%, I d be throwing extra at the principal monthly.