1. Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.

    Your voice is missing! You will need to register to get access to all the features that our community has to offer.

    We hope to see you as a part of our community soon and God Bless!

Existing-home sales

Discussion in 'News & Current Events' started by Salty, Nov 22, 2022 at 8:16 PM.

  1. Salty

    Salty 20,000 Posts Club
    Administrator

    Joined:
    Apr 8, 2003
    Messages:
    36,090
    Likes Received:
    2,202
    Faith:
    Baptist
  2. JonC

    JonC Moderator
    Moderator

    Joined:
    Aug 28, 2001
    Messages:
    28,526
    Likes Received:
    3,031
    Faith:
    Baptist
    Mortgage rates are way up.

    Average today is 7.408%. Last year it was 2.65%.
     
    • Agree Agree x 1
  3. Reynolds

    Reynolds Well-Known Member
    Site Supporter

    Joined:
    Jun 15, 2014
    Messages:
    13,594
    Likes Received:
    2,439
    Faith:
    Baptist
    That's what Democrats do for you. I want to see 22 to 25% rates.
     
    • Agree Agree x 1
    • Winner Winner x 1
  4. Van

    Van Well-Known Member
    Site Supporter

    Joined:
    Mar 4, 2011
    Messages:
    22,939
    Likes Received:
    844
    Faith:
    Baptist
    Two factors come immediately to mind, people cannot afford the monthly payment either because the initial price is too high, or because the resultant monthly payment is too high due to the inflation fighting mortgage rate. I expect we will see mortgage rates above the inflation rate soon.

    But with Dems in charge, we will not see domestic energy production surging due to government action. Thus a train-wreck is coming down the tracks.
     
  5. JonC

    JonC Moderator
    Moderator

    Joined:
    Aug 28, 2001
    Messages:
    28,526
    Likes Received:
    3,031
    Faith:
    Baptist
    Mine is at 2%. I'm inclined to agree with you. Let the people get what they voted for.

    Carter's Administration saw an increase in mortgage rates, topping out in the next Administration (Bush Sr.'s) at 17.82% in 1981.

    So it is not unrealistic to think the rates could climb to 20%.
     
    • Winner Winner x 1
  6. Reynolds

    Reynolds Well-Known Member
    Site Supporter

    Joined:
    Jun 15, 2014
    Messages:
    13,594
    Likes Received:
    2,439
    Faith:
    Baptist
    I like buying up the non fixed rate mortgaged assets that hit the market for 25 cents on the dollar when the rates sky rocket.
     
    • Like Like x 1
  7. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
    Site Supporter

    Joined:
    Jun 5, 2010
    Messages:
    31,025
    Likes Received:
    1,241
    Faith:
    Baptist
    Do you like the cost of lumber and pipe and metal?
     
  8. Reynolds

    Reynolds Well-Known Member
    Site Supporter

    Joined:
    Jun 15, 2014
    Messages:
    13,594
    Likes Received:
    2,439
    Faith:
    Baptist
    It goes down when interest rates go up high enough to tank the economy.
     
  9. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
    Site Supporter

    Joined:
    Jun 5, 2010
    Messages:
    31,025
    Likes Received:
    1,241
    Faith:
    Baptist
    Just like Germany prior to WWI. That also was the major catalyst to WWII.
     
Loading...