4% 30 Year Mortgage

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Submitted by trex on March 18, 2022 - 6:56pm

Submitted by sdrealtor on March 22, 2022 - 8:23am.

As would the equity and housing crash you’ve been cheering for the last couple years. Pot meet kettle

Submitted by sdrealtor on March 22, 2022 - 9:35am.

deadzone wrote:
sdrealtor wrote:
As would the equity and housing crash you’ve been cheering for the last couple years. Pot meet kettle

Not even close. Housing "correction" of 30% or so would have minimal impact on the vast majority of the population that either don't own real estate, or have significant equity built up. Would mainly impact the investor class. And for everyone else, prices of things would go down. Win/Win

Uhhhh…..no and you are cheering for full on crash. Hypocrite

Submitted by sdrealtor on March 22, 2022 - 9:41am.

deadzone wrote:
Mortgage rates ripping higher again today. Getting close to 5% on the 30year fixed. The title of this thread is already obsolete.

Uhhhh….no. Having coffee with lender friend 30 years experience over 10,000 loans. He’s at 4.25% no points right now. But he’s doing 10/1’s now anyway

Submitted by Coronita on March 22, 2022 - 10:34am.

deadzone wrote:
sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:
As would the equity and housing crash you’ve been cheering for the last couple years. Pot meet kettle

Not even close. Housing "correction" of 30% or so would have minimal impact on the vast majority of the population that either don't own real estate, or have significant equity built up. Would mainly impact the investor class. And for everyone else, prices of things would go down. Win/Win

Uhhhh…..no and you are cheering for full on crash. Hypocrite

What's a full on crash in your book? Yes lower prices in general are better for everyone except the investor class. What are you cheering for?
You are obviously a fan boy for the expansion of the wealth divide. Basically an elitist prick who masquerades as a liberal democrat.

Uh, huh? Investor class can make money whether home prices are high or low, it depends on which kind of investor.

If prices are lower, more investors with lesser deep pockets have more opportunity to buy too. Personally if prices correct, count me in and I'll be happy to jump right back into buying more.

I think that's the difference dz between you and others. You have an ax to grind and somehow are hell bent on a crash in order for you to be made whole. I don't think most people here really care if this do correct, because (1) we've already taken advantage of the GOOAL crash of 2008 and now have a much stronger financial base to build off of so that (2) if things do correct, were more financially equipped to jump on that too. We just think you'll be disappointed.

But I do understand how you might need things to crash in order to feel made whole. Good luck to you on that one.

Politics and political parties have nothing to do with your financial well being. But a lot of people like to blame politicians for their own poor financial decisions. That's the case on both side. Not sure why you would bring that up in this context, besides again trying to grind an ax.

Submitted by sdrealtor on March 22, 2022 - 10:30am.

deadzone wrote:
sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:
As would the equity and housing crash you’ve been cheering for the last couple years. Pot meet kettle

Not even close. Housing "correction" of 30% or so would have minimal impact on the vast majority of the population that either don't own real estate, or have significant equity built up. Would mainly impact the investor class. And for everyone else, prices of things would go down. Win/Win

Uhhhh…..no and you are cheering for full on crash. Hypocrite

What's a full on crash in your book? Yes lower prices in general are better for everyone except the investor class. What are you cheering for?
You are obviously a fan boy for the expansion of the wealth divide. Basically an elitist prick who masquerades as a liberal democrat.

Now that’s funny! I would love lower prices and more affordability in my hood. Love seeing young happy positive families move in around me. I’m not cheering for anything. I just deliver reports on what I see with a side of misery for you lol

Submitted by sdrealtor on March 22, 2022 - 10:34am.

deadzone wrote:
sdrealtor wrote:
deadzone wrote:
Mortgage rates ripping higher again today. Getting close to 5% on the 30year fixed. The title of this thread is already obsolete.

Uhhhh….no. Having coffee with lender friend 30 years experience over 10,000 loans. He’s at 4.25% no points right now. But he’s doing 10/1’s now anyway

I call BS on that. You and your imaginary friends.

Ummm…No. Here is an imaginary website. I’ve used them in past and rate is exactly what is posted

https://www.aimloan.com/home/e2ce6260111...

Submitted by Coronita on March 22, 2022 - 10:39am.

sdrealtor wrote:
deadzone wrote:
sdrealtor wrote:
deadzone wrote:
Mortgage rates ripping higher again today. Getting close to 5% on the 30year fixed. The title of this thread is already obsolete.

Uhhhh….no. Having coffee with lender friend 30 years experience over 10,000 loans. He’s at 4.25% no points right now. But he’s doing 10/1’s now anyway

I call BS on that. You and your imaginary friends.

Ummm…No. Here is an imaginary website. I’ve used them in past and rate is exactly what is posted

https://www.aimloan.com/home/e2ce626011167a6

Double checked with an old lender I used a long time ago. Yup. These are slightly lower because you have to be a Aerospace Corp employee, but still..

https://aerofcu.mortgagewebcenter.com/

People that bought homes and/or refinanced before would know where to shop around for a loan, and see that these rates are fairly accurate. Key word, people that bought homes and/or refinanced before.

Submitted by sdrealtor on March 22, 2022 - 10:40am.

The funniest part is I know exactly where dumbzone got that. he reads something on the internet and thinks hes an expert. Bill on Calculated Risk posted a lender sent him a rate sheet with rate close to 5% so he read it and ran with it without verifying that it was an extreme outlier. Silly dumbzone, real estate is for pros

Submitted by Coronita on March 22, 2022 - 10:42am.

...

Submitted by an on March 22, 2022 - 10:57am.

deadzone wrote:
Man what's your fascination with the 70s dude? That level of inflation would decimate the finances of the majority of the population.

As Coronita like to say, not my problem. BTW, I did well and took advantage GOOAL during the last major crash. So, I'll be super happy with that too. However, I'll be making even more if we see the repeat of the 70s. Since I already experienced a crash, I want to experience stagflation next.

Submitted by Coronita on March 22, 2022 - 11:57am.

Speaking of inflation... LOL...

costcogas

Thank god I am fully remote and only need to fill up this SUV or any other car for that matter for leisure once every few weeks.

Not that I drive my SUV to work anyway when I had to go in person.

Hmm, had to go see my tenant yesterday while driving this car... Write off.

Submitted by sdrealtor on March 22, 2022 - 3:33pm.

deadzone wrote:
sdrealtor wrote:
real estate is for pros

Hah, funniest thing I've heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.

And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.

Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.

You mean like this condo closing today at 3.875?

And if you don’t think it’s real how about a bet? I’ll put up the deed to my house and you put up say $1000? I’ll be happy to take your $$$

I don’t care, it’s just fun teasing you

And I know tons of people who are benefitting that are far from the wealthy class. It’s doomer permabears like you cheering for a crash that are among the suffering

And yes if you look on the mass media sites you see higher rates but people that actually buy know where to look at actual lenders. Go to aimloan.com

Local lender. You can get the posted rate right now. Give ‘em a call. Operators are standing by!! Gooal!!!

Submitted by gzz on March 22, 2022 - 12:33pm.

I see the 15 year went up much less. For a while you only saved like .3 with a 15 and <0.1% with a 20. SDR’s aimloan link shows a 0.75% savings with a 15 and .375 with a 20.

Submitted by Coronita on March 22, 2022 - 12:44pm.

deadzone wrote:
sdrealtor wrote:
real estate is for pros

Hah, funniest thing I've heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.

And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.

Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.

Dude, you're ax grinding mentality is starting to make sense. You think you are better and smarter than people, and yet despite that, apparently you missed out GOOOAL and can't stand it... Am I right?

Submitted by sdrealtor on March 22, 2022 - 1:46pm.

"And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening."

No love for sdr? I have clients literally signing loan documents right now for what you said is not happening!

You seriously are the best set up man in the business. Will you be my wingman?

The point is you are consistently wrong. You should adopt the George Costanza mentality and do the exact opposite of whatever you think you should. Lots of things fueled the rise not just interest rates

Submitted by Coronita on March 22, 2022 - 1:56pm.
Submitted by sdrealtor on March 22, 2022 - 2:13pm.

A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!!

Submitted by XBoxBoy on March 22, 2022 - 3:05pm.

sdrealtor wrote:
A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!!

I realize you're just poking fun, but wouldn't most buyers of $7mil properties be paying cash? How often are loans even involved in 4mil+ purchases?

Submitted by sdrealtor on March 22, 2022 - 3:10pm.

XBoxBoy wrote:
sdrealtor wrote:
A $7M house in Encinitas just sold the 1st day on market.

Buyer must be trying to get in before rates go up!!

I realize you're just poking fun, but wouldn't most buyers of $7mil properties be paying cash? How often are loans even involved in 4mil+ purchases?

Of course they are. lol

Only exception I can think of is sometimes the big brokerages make big loans to clients based upon pledged assets

Submitted by The-Shoveler on March 22, 2022 - 3:55pm.

Coronita wrote:
https://www.youtube.com/watch?v=BH5-rSxilxo

LOL I love that commercial, but that said I would not touch crypto or nft's with a 10 foot pole.

IMO one day most everyone will wake up and say,

"this is just a bunch of numbers in a computer with nothing to back it up"

Same for digital RE IMHO.

Submitted by Coronita on March 22, 2022 - 4:20pm.

The-Shoveler wrote:
Coronita wrote:
https://www.youtube.com/watch?v=BH5-rSxilxo

LOL I love that commercial, but that said I would not touch crypto or nft's with a 10 foot pole.

IMO one day most everyone will wake up and say,

"this is just a bunch of numbers in a computer with nothing to back it up"

Same for digital RE IMHO.

I agree.

Submitted by gzz on March 22, 2022 - 4:31pm.

Zuckerberg had a mortgage on his $10 million house in Palo Alto, which represents less than 0.02% of his net worth.

Submitted by limkotir on March 22, 2022 - 4:55pm.

The Buy, Borrow and Die wealth planning strategy?:
https://www.youtube.com/watch?v=8pBPZMUcsh0

Submitted by Coronita on March 22, 2022 - 6:19pm.

limkotir wrote:
The Buy, Borrow and Die wealth planning strategy?:
https://www.youtube.com/watch?v=8pBPZMUcsh0

Uh. Anyone can do this actually. Anyone with a home, even a primary home, can always borrow against the equity. It's what people do with it that matters.

Lot's of people in this country borrow against their equity and burn through it on worthless things.

Submitted by scaredyclassic on March 23, 2022 - 10:11am.

Anyone else planning to dispose of all assets while alive, run up huge personal lines of credit at end of life and then die?

Is this commonly done?

Submitted by sdrealtor on March 23, 2022 - 10:18am.

Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!!

Submitted by scaredyclassic on March 23, 2022 - 11:42am.

sdrealtor wrote:
Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!!

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.

Submitted by sdrealtor on March 23, 2022 - 12:36pm.

scaredyclassic wrote:
sdrealtor wrote:
Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!!

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death

Submitted by gzz on March 23, 2022 - 12:48pm.

“ run up huge personal lines of credit at end of life and then die?
Is this commonly done?”

Not too often. The elderly aren’t big on extravagant living.

That’s why our aging society will tend toward deflation and low to negative rates: higher desired savings than creditworthy borrowers.

Submitted by scaredyclassic on March 23, 2022 - 3:30pm.

gzz wrote:
“ run up huge personal lines of credit at end of life and then die?
Is this commonly done?”

Not too often. The elderly aren’t big on extravagant living.

That’s why our aging society will tend toward deflation and low to negative rates: higher desired savings than creditworthy borrowers.

Top of the line sr homes, hospice, high grade drugs...all on credit!!! Then fight the eviction when u stop paying...go big old man...

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