Everyone knows about the rates for 15 and 30-year fixed mortgages
it is all over Twitter
it is all over CNBC which I have on mute when visiting a family member
it is all over every email I receive from realtors in Wyoming, Idaho, Florida
the rates are being pumped by the salesman types to create the buying panic which will benefit the real estate sales ... we have homes out here ranging from 1.2M to 50M and the realtors I know who are serving these clients are including the rate charts in their quarterly email updates ... I looked at a home next to Senator Rockefeller and the other neighbor owns a company employing 36,000 people which includes Real Estate Development and during the showing the seller's agent mentions the rate rise for mortgages ... We have a family member who owns the nationwide Hillwood Real Estate Development company, and the salesman which represent the development properties are using this information, I assure you
I hear about the rising fixed rates in mortgages at least 30 times daily
Footster - what world do you live in?
I have posted this chart and other chart versions showing the consolidation range for the 30-year US Treasury yield and the TYX to SPX ratio as a Market Timing tool for over 5 years at both public and private boards and forums ... I would estimate over 1000 folks have the actual LINK to reproduce this chart because I have given away the LINK
I just read where the interest rates jumped from 3.75 to 4.5 in just this last week..Wish they would pay something close to that on CD's..That would do a lot to stimulate business..Very hard to buy anything with savings accounts when the rate is .50 to .70 on 100K CD's..
Hi Foot. I bought my first house @ 11% interest (land contract well below bank rates at the time, 1981). Paid it off in 8 years. Co- workers said I was stupid. (Home cost 45K) Sold it for 75K 12 years later. Meanwhile I bought 10 acres had a house built (where I live). Owed 40K. Then bought 57 acres for 109K which I sold on a 15 year land contract @ 5%, 20% down for 315K Dec. 2012. (No realter closed in 13 days).
So whats the bitch regarding 5% interest rates??? Just how long have you been a realator for? Do you even own anything???
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