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Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing

 
Anonymous Coward
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01/30/2018 12:54 AM
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Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Mortgage rates jump to the highest point in 4 years, an ominous sign for spring housing Mortgage rates jump to the highest point in 4 years, an ominous sign for spring housing

A huge sell-off in the bond market is about to make buying a home more expensive. Mortgage rates, which loosely follow the yield on the 10-year Treasury, have been rising for the past few weeks, but are seeing their biggest move higher Monday.

"Bottom line, rate sheets are going to be ugly this morning," wrote Matthew Graham, chief operating officer of Mortgage News Daily. "Some lenders will be at 4.5 percent on their best-case-scenario 30-year fixed quotes."

That is the highest rate since 2014.
[link to www.cnbc.com (secure)]
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01/30/2018 01:03 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Still at historical lows however ...
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Here are several predictions from the largest housing and mortgage groups for the 30-year fixed-rate mortgage:

The Mortgage Bankers Association predicts it will rise to 4.6 percent in 2018.
The National Association of Realtors expects it be around 4.5 percent at the end of 2018.
Realtor.com says the rate will average 4.6 percent and reach 5 percent by year-end.

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01/30/2018 02:03 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Tiny houses, here we go! From the old truck little houses, to the super fancy decked out spaces.....there is room for this market like never before.
Why carry a mortgage if you can be small and flexible. Or carry a tiny mortgage and have it paid in five years, or even ten. Private loans, personal loans almost all will carry higher loan rates, but freedom from a real house payment and ease off rent, will carry a market of it's own. Lots that will provide hook ups and laundry, outside lighting and safety....will be the new rage. And we may see a revival in trailor courts. Housing will recover and probably be a new type of mortgage product will find a demand.
Anonymous Coward
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01/30/2018 02:33 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
When will interest rates be north of 10% ?
Anonymous Coward
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01/30/2018 03:25 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Tiny houses, here we go! From the old truck little houses, to the super fancy decked out spaces.....there is room for this market like never before.
Why carry a mortgage if you can be small and flexible. Or carry a tiny mortgage and have it paid in five years, or even ten. Private loans, personal loans almost all will carry higher loan rates, but freedom from a real house payment and ease off rent, will carry a market of it's own. Lots that will provide hook ups and laundry, outside lighting and safety....will be the new rage. And we may see a revival in trailor courts. Housing will recover and probably be a new type of mortgage product will find a demand.
 Quoting: Anonymous Coward 75207221


Those things are freaking expensive. Basically they are campers made of wood, call them what they are. Also there are restrictive codes everywhere - I feel like its a meme. Seriously. I doesn't seem realistically feasible.
Anonymous Coward
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01/30/2018 04:49 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
In 1978 rates were i think around 22%

Haha. I was trying o sell my dads townhouses in Fredneck, MD and one Indian guy came once a week and axed "have rates gone down yet?!"

Too much. A monthly on a $100,000 Home i think was near $1800-1900

So being unable to help my family economically, i joined the hre krishnas.

Then i found out they were infiltrated by the Illuminaughty and later did my best to inform the sheephill about it.

Now i have my own farm and sacred cows after many years in court bcuz its anti status quo.

Its true what they say: you gotta fight for your right to partee!

And: gotta pay your dues if you wanna sing the blues, and you know it dont come easy
Anonymous Coward
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01/30/2018 04:52 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Tiny houses, here we go! From the old truck little houses, to the super fancy decked out spaces.....there is room for this market like never before.
Why carry a mortgage if you can be small and flexible. Or carry a tiny mortgage and have it paid in five years, or even ten. Private loans, personal loans almost all will carry higher loan rates, but freedom from a real house payment and ease off rent, will carry a market of it's own. Lots that will provide hook ups and laundry, outside lighting and safety....will be the new rage. And we may see a revival in trailor courts. Housing will recover and probably be a new type of mortgage product will find a demand.
 Quoting: Anonymous Coward 75207221


Those things are freaking expensive. Basically they are campers made of wood, call them what they are. Also there are restrictive codes everywhere - I feel like its a meme. Seriously. I doesn't seem realistically feasible.
 Quoting: Starbird


I second that. I thought they were a good idea until I looked at the features of RVs in the same/lower price range.
Anonymous Coward
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01/30/2018 04:53 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
"they" gotta do SOMETHING to derail trump.

and they're willing to bring the country down to do it...
optics

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01/30/2018 05:02 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
"they" gotta do SOMETHING to derail trump.

and they're willing to bring the country down to do it...
 Quoting: Anonymous Coward 74322544


hesright
Anonymous Coward
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01/30/2018 05:49 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
WINNING!
Anonymous Coward
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01/30/2018 07:16 AM
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Re: Steady as She Goes jim... Mortgage rates jump to highest in 4 years, an ominous sign for spring housing
Tiny houses, here we go! From the old truck little houses, to the super fancy decked out spaces.....there is room for this market like never before.
Why carry a mortgage if you can be small and flexible. Or carry a tiny mortgage and have it paid in five years, or even ten. Private loans, personal loans almost all will carry higher loan rates, but freedom from a real house payment and ease off rent, will carry a market of it's own. Lots that will provide hook ups and laundry, outside lighting and safety....will be the new rage. And we may see a revival in trailor courts. Housing will recover and probably be a new type of mortgage product will find a demand.
 Quoting: Anonymous Coward 75207221


Lol.

I think they call those "trailer parks".





GLP