#mortgages #interestrates #fedratehike
Yahoo Finance’s Gabriella Cruz-Martinez discusses the 30-year mortgage rate hitting 4.42%, the highest level in three years, and what it means for homebuyers.
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First comment. Let’s gooo
Not quite. 🙃
One can’t do high prices and high borrowing rates. One will have to calm down… and it will be the prices.
Bingo
Gabriella sounds like she’s reading a script
Good
This is just the beginning.
✔️Mortgage rates will cross 5% and may head to 6% by December.
✔️Foreclosure stopped artificially for last 2 years will start hitting the market.
✔️New construction supply will start hitting the market at the same time
✔️The wallstreet buyers will start dumping their real estate purchases once they realize there is no more price appreciation left.
✔️It takes just 1 house on the street to sell at 10-20% below asking to start the trend and pull down values for the remaining “comps”.
A crash is inevitable.
The Smart ones are raising cash …saving money 💰💰… Getting ready to scoop up properties at 40-50% discount.
hallelujah
The rich doesn’t need to borrow money….
You vote Democrat . Your fault !
And 13 billion goes to Ukraine
One thing that really burns my butt is that the same crowd saying real estate can’t lose value, will be the same crowd Screaming great depression if housing prices start coming down. The arrogance with asset holders is palpable. We need an automated Fed that won’t give into calls to cut rates when the going gets tough. What we have is an impotent Fed Chair and impotent institution that can’t even do a 50bp hike to send a message, what a joke.