Yeah Lorien, this is the rate in June (June 29, 2006 8.25%), you're smart, tell me what you can get now!
We are talking mortgages anthony. Not the prime rate. Mortgages (that lead to your mythical foreclosure problems) is less than 6%
I told you man.. Maybe he is still stoned? Maybe that's why he talks about Nixon so much.... He thinks he is still alive.
No, we are not talking about mortgages Lorien, those that were fixed two years ago at 5.25%, we are talking about prime rate right now and what you can get fixed and adjustable rate mortgages for RIGHT NOW man!
It's still pretty damned good I locked in at 5 1/4 myself, but my home equity line runs close to 8.5%... Still amazing that I can take out a fuckton of cash at 8 1/2%. Could not do the same with a credit card. Interest rates are still low as hell.
8.25%. As I said, please look at mortgage rates. They are around 6%. I'm not sure why you are blind to that http://biz.yahoo.com/brn/061026/19874.html?.v=1
He isn't dealing in the real world, so facts don't matter. my mortgage is 5.5% - thats the bummer if I try to sell, anything I buy will cost more.
What did I lose on? http://www.bankrate.com/brm/ratewatch/leading-rates.asp http://www.bankrate.com/brm/ratewatch/wsjPrimeRate.asp Please explain?
Can you explain the reasons why we have record foreclosures if interest rates are not rising Could it have something to do with the dollar being weak Because of the war and the dual deficits, budget and trade
I explained it to you but you did not respond to my post. My post: Exotic mortgages and real estate speculation are the sole reasons for record foreclosures. I mean seriously, anyone who didn't know that shouldn't be allowed to vote. These are not innocent people getting their houses foreclosed upon. There are people spending 75% of their income on a house they cannot afford because they expected to refinance later or sell it, YOU KNOW THAT. I follow the real estate market very closely, it's a hobby of mine and no innocent person is getting hurt in this downtrend. If you cannot afford a 15 year fixed rate mortgage with 20% down payment, YOU SHOULD NOT BUYING THE HOUSE. End of story. 30 and 40 year, no money down mortgages, and other exotic mortgages (like interest only mortgages, which recently have made up a SIGNIFICANT amount of total mortgages) are the sole cause of this.
Did you read the story you posted? Weird ass mortgages people are signing these days without thinking about it could possibly be to blame Weak dollar doesn't really affect this. Weak dollar affects prices of goods coming into the country. Imports. Not mortgages.
He was married before her though, and that wife had a lot of money too. Kerry likes to marry into money
How do you figure a weak dollar has nothing to do with interest rates? OK fixed mortgage rates stay fixed, but adjustable rate mortgages move up with interest rates, that is why people are losing their homes! http://www.newhousenews.com/archive/ali102006.html Interest rates go up when the dollar is weak to keep foreign investors from pulling their money out of American banks, as the dollar get weaker the banks have to pay a higher rate or they move to other currencies and pull their money!
Please CHOOSE adjustable rate mortgages. No one forces anyone to sign those. They are adjustable, and thus risky. Geesh. I know you want to Blame Nixon/Cheney/Halliburton for everything, but exercise at least a little common sense. Geesh. Whose responsibility is it if they don't refinance before the term is up and rate could go up? Theirs or Bush's? Is Bush supposed to wait until everyone refinances before he calls the Fed or something? Think a little, man.
Are you that dense? People are buying more house than they can afford! They use interest only mortgages. Seriously, read a little about how interest only mortgages and how many people are using them. If you buy a house and cannot afford a small payment increase due to changing interest rates, you couldn't afford the house in the first place.