Mortgage Rates- holy sh@t

Discussion in 'Trading' started by Trend Fader, Oct 29, 2008.

  1. 30 year fixed conforming being quoted at 6.75%. How is the market supposed to rebound when rates are so high. Totally messed up. Jumbo loans are well over 7% for 30 year fixed. All this while we have a fed funds going to 1%.. go figure!
     
  2. Steep yield curve is good.... for BANKS!
     
  3. It's called "fear" and "credit risk". :cool:
     
  4. The point is that the high rates will devastate the housing market further. It will sideline most buyers.
     


  5. It will only sideline the "unqualified" buyers. They will have to go to a foreclosure infomercial seminar in order to find a home. :cool:
     
  6. sabunabu

    sabunabu


    I'm a qualified buyer and I wouldn't lock myself into a 30 yr mortgage at 6.75%. Just too high-- not by historical measures I know but high for the current environment. So, I'll be "sidelined" till the banks decide it's okay to lend again.
     
  7. get in now............ rates are going to drift up in the next several years... 6.75% will look like a bargain
     
  8. Go to a public library and check out anything you can that is authored by Carleton Sheets! :cool:
     
  9. Those are loan rates for you and I.
    The dead beats who are in foreclosure will be getting sweet gov't 30 year fixed at 5% or less!


     
  10. HAHA!
     
    #10     Oct 29, 2008