4% 30 Year Mortgage

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

Submitted by sdrealtor on April 5, 2022 - 5:09pm.

Not really. Owner took over house from parents who are still in area. Looks like owner got himself in a bit of trouble several years ago but now has career with high level position in biotech. Its first time house was on market. Listed at 1.3 and bid up to current level. Maybe you know something I dont?

Submitted by sdrealtor on April 9, 2022 - 1:06pm.

I’ve been saying this was gonna happen for a year. Now media is recognizing it also. Higher rates will hurt as much as help

https://finance.yahoo.com/news/mortgage-...

Submitted by limkotir on April 10, 2022 - 6:39pm.

sdrealtor wrote:
I’ve been saying this was gonna happen for a year. Now media is recognizing it also. Higher rates will hurt as much as help

https://finance.yahoo.com/news/mortgage-rate-trap-housing-market-203108693.html

Prop 13 in the form and name of historical low 30-year fixed mortgage rate -- for those that are benefitting from it, perhaps even more profoundly impactful, since it's likely their biggest overhead cost, mortgage, is FIXED for the next 28-30 years.

Submitted by sdrealtor on April 10, 2022 - 7:01pm.

But taxes have long been basically fixed. In a declining rate environment people refinance or moved and could get another sub 3% loan. With those no longer available many with them will stay put while inflation does the heavy lifting. Higher rates hurt as much as they help the balance of supply and demand

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