7.5% Mortgage Rate BELOW Historical average

[CrusaderFrank]

Highest interest rates in a generation, highest inflation since Carter ….. and Progressives brag about Biden

Amazing

 

[HikerGuy83]

Highest I interest rates in a generation, highest inflation since Carter ….. and Progressives brag about Biden

Amazing

There are so many factors at work here.

But the "goal" of 7.5% mortgage interest rates makes no sense to me.

Why would I want to pay that kind of rate ?

 

[John Edgar Slow Horses]

^^ okay this has to be a troll account.

The figures historically are accurate. The low rates allowed most of the property to be sold. Smart home owners do not want to trade a 2.5% rate for one three times higher. New home buyers are trapped with more buyers available then homes. It will take a decade to work out.

 

[HikerGuy83]

The figures historically are accurate. The low rates allowed most of the property to be sold. Smart home owners do not want to trade a 2.5% rate for one three times higher. New home buyers are trapped with more buyers available then homes. It will take a decade to work out.

In theory, housing adjusts for interest rates.

So, a "smart home owner house will adjust as will the home he desires.

However, they are not going to adjust by a factor of 3....at least not real fast (takes years).

 

[d0gbreath]

We bought our current home in '04. Our rate is 7.6%. I was tempted to refinance when trump had it down to 3.2%, until I did my homework on the companies that wanted us to refinance. Shysters and cons do not appeal to me.

 

[luiza]

Of course you bankers want 7+ percent to be “the new normal”.

Am sure you noticed his spectacular outburst in a separate bleating and whining post telling us how he is victimised . The guy has serious mental health issues . A true Wanker non- banker.

 

[The Banker]

Again, what causes inflation. That is the only reason you raise rates....inflation.

Trump printed epic rexcord amounts of fake money and handed it out to everyone, Trump's world record $3+T deficit in 2020 and his record FED fake money printing was a massive cause of inflation, but there are many sources.

Supply was very messed up, the supply chains in China were screwed up and caused a large amount of inflation. Commodities surged post Ukraine invasion and caused a lot of inflation. All that is easing now and inflation is running at the normal rate right now.

Right now it seems like the FED doesn;t need to raise anymore and rates are going to go lower. Mortgages back to around 5%, which would be great.

 

[Nostra]

Obama inherited the Bush blow up. He inherited the worst economy in generations. His economy was weak, but the same as Trump's. Look at the annual deficit from 2012-2020, it decreased substantially under Obama, and increased substantially under Trump pre-covid.

Barry’s last three deficits were rising, Simp.

 

[Nostra]

Mortgage rate right here, look at the past 25 years...

United States 30-Year Mortgage Rate

30 Year Mortgage Rate in the United States decreased to 6.86 percent in June 26 from 6.87 percent in the previous week. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

tradingeconomics.com

You are misinformed as always

Have to go back 21 years to find one higher than Tater’s.

 

[Nostra]

Trump printed epic rexcord amounts of fake money and handed it out to everyone, Trump's world record $3+T deficit in 2020 and his record FED fake money printing was a massive cause of inflation, but there are many sources.

Supply was very messed up, the supply chains in China were screwed up and caused a large amount of inflation. Commodities surged post Ukraine invasion and caused a lot of inflation. All that is easing now and inflation is running at the normal rate right now.

Right now it seems like the FED doesn;t need to raise anymore and rates are going to go lower. Mortgages back to around 5%, which would be great.

Ever heard of a little thing called Covid, Simp?

 

[HikerGuy83]

the supply chains in China were screwed up and caused a large amount of inflation

That's what I remember. China has some big issues and it hit the U.S.

 

[Oddball]

30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

The extremely low rates under Trump were not normal at all, and the sign of a weak and fragile economy. Trump's economy crashed when they tried to raise rates to 2+% in 2018, then they needed to cut rates and start more QE. not good.

Biden has a strong and normal economy with a 7.5% mortgage rate that is still under the 30 year average. Trump had a weak and fragile economy that required weak low interest and mortgage rates. Trump's low interest and mortgage rates are a sign of a bad and weak economy.

United States 30-Year Mortgage Rate

30 Year Mortgage Rate in the United States decreased to 6.86 percent in June 26 from 6.87 percent in the previous week. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

tradingeconomics.com

Well, nobody ever thought that your moonbat turds were going to try to polish themselves.

 

[The Duke]

Highest interest rates in a generation, highest inflation since Carter ….. and Progressives brag about Biden

Amazing

It's really just a pathetic gaslight attempt.

 

[bripat9643]

30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023, reaching an all time high of 18.63 percent in October of 1981 and a record low of 2.65 percent in January of 2021. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

The extremely low rates under Trump were not normal at all, and the sign of a weak and fragile economy. Trump's economy crashed when they tried to raise rates to 2+% in 2018, then they needed to cut rates and start more QE. not good.

Biden has a strong and normal economy with a 7.5% mortgage rate that is still under the 30 year average. Trump had a weak and fragile economy that required weak low interest and mortgage rates. Trump's low interest and mortgage rates are a sign of a bad and weak economy.

United States 30-Year Mortgage Rate

30 Year Mortgage Rate in the United States decreased to 6.86 percent in June 26 from 6.87 percent in the previous week. This page includes a chart with historical data for the United States 30 Year Mortgage Rate.

tradingeconomics.com

You took your average starting in 1971, which is when the era of stagflation began. You've already rigged the result. U.S. history goes back to 1789, when the Constitution was signed.

 

[Lisa558]

We bought our current home in '04. Our rate is 7.6%. I was tempted to refinance when trump had it down to 3.2%, until I did my homework on the companies that wanted us to refinance. Shysters and cons do not appeal to me.

You missed a great opportunity. Who would hold onto a mortgage of 7.6% when you could refinance for half that? And news flash: it wasn’t shysters and cons: that was the going rate from major mortgage lenders.

You’re just demonstrating the stupidity of Democrats.

 

[d0gbreath]

You missed a great opportunity. Who would hold onto a mortgage of 7.6% when you could refinance for half that? And news flash: it wasn’t shysters and cons: that was the going rate from major mortgage lenders.

You’re just demonstrating the stupidity of Democrats.

It's my money to spend as I see fit. Since our mortgage is fixed, our payments are less than a 2-bedroom apartment today. Besides, you pay off your interest in the first 15 years. We'd already paid that usuary fee when the rates dropped.

Edit: thanks for calling me stupid. I really appreciate that!

 

[The Duke]

You missed a great opportunity. Who would hold onto a mortgage of 7.6% when you could refinance for half that? And news flash: it wasn’t shysters and cons: that was the going rate from major mortgage lenders.

You’re just demonstrating the stupidity of Democrats.

Eh..you gotta weigh all the real costs of that stuff, closing costs, other hidden costs, might be variable rate

or balloon payments or some crazy stuff in there. An aunt got my mom into credit card debt, and I took out

a simple, like 2.6% fixed rate mortgage for just enough to pay off the credit card and cut it up, and paid it off in 2 years.

You gotta watch 'em! I didn't go with the 1st two lenders. I felt much more at ease with the 3rd people. Everything

was straight up. They were of the tribe.

 

[Lisa558]

It's my money to spend as I see fit. Since our mortgage is fixed, our payments are less than a 2-bedroom apartment today. Besides, you pay off your interest in the first 15 years. We'd already paid that usuary fee when the rates dropped.

Edit: thanks for calling me stupid. I really appreciate that!

Sure, it’s your money. But you were bragging as to how you didn‘t refinance down from 7.6% to 3% because you didn’t get taken in by shysters. If THAT was your reason, you made a very foolish and ignorant decision.

Edit: I rephrase: you showed your ignorance and foolishness.

 

[d0gbreath]

Sure, it’s your money. But you were bragging as to how you didn‘t refinance down from 7.6% to 3% because you didn’t get taken in by shysters. If THAT was your reason, you made a very foolish and ignorant decision.

Edit: I rephrase: you showed your ignorance and foolishness.

I wasn't "bragging".

 

[The Duke]

Sure, it’s your money. But you were bragging as to how you didn‘t refinance down from 7.6% to 3% because you didn’t get taken in by shysters. If THAT was your reason, you made a very foolish and ignorant decision.

Edit: I rephrase: you showed your ignorance and foolishness.

That's pretty much what I did with the credit card thing. They were chargin' like 17%.

I saw that and thought about it for a few days and did something about it. Didn't have enough cash to pay it off myself at the

time so took the next best option. Oh, I read the fine print, yes I do.