Post by: pianoman9701 on April 05, 2022, 08:59:06 AM
Post by: RB on April 05, 2022, 09:23:33 AM
Whats a payment like at 12 percent on $400K? That seems to be the normal price lately.
Post by: phildobaggins on April 05, 2022, 09:29:16 AM
Post by: bearhunter99 on April 05, 2022, 09:37:02 AM
Post by: pianoman9701 on April 05, 2022, 09:46:46 AM
Holy cow! :yike:
Whats a payment like at 12 percent on $400K? That seems to be the normal price lately.
Approximately $4708.00/mo at 12.25%, with 19K in closing costs and prepaids taxes, interest, and insurance
Post by: Boss .300 winmag on April 05, 2022, 10:12:37 AM
No it’s all paid for obviously worth a whole lot more.🤣
Post by: pianoman9701 on April 05, 2022, 10:15:46 AM
My neighbor bought his house back then, said he could barely make the payment between him and his wife’s pay with no kids.
No it’s all paid for obviously worth a whole lot more.🤣
And the purchase price was probably between $60-80K. You can't buy a pole barn for that now.
Post by: Colville on April 05, 2022, 10:23:30 AM
Post by: pianoman9701 on April 05, 2022, 10:33:14 AM
Going to cool off after we get a couple points built back into the system. Every point either removes a buyer from the market or makes them aim lower... which is really hard to do with the median price of a home in Snoho or King Counties. The rates can be still historically low, but he run up in values remains. I doubt in our region we see negative price movement, but we'll stop seeing 15%. My home is up 120% in 6 years.
New home purchases have definitely slowed. Values should stabilize but because inventory is still nonexistent, I personally don't see them decreasing. Just a guess. I don't have crystal balls.
Post by: CP on April 05, 2022, 10:33:57 AM
"It is of paramount importance to get inflation down. Accordingly, the Committee will continue tightening monetary policy methodically through a series of interest rate increases and by starting to reduce the balance sheet at a rapid pace as soon as our May meeting."
Post by: dreamingbig on April 05, 2022, 10:44:58 AM
Inflation…
There was far too much free money pumped into the system.
There is no free lunch. Time to pay up and feel the pain on the way out.
Hopefully the supply chain inflation due to Covid and war normalizes to offset the impact of the unnecessary stimulus caused inflation.
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Post by: Machias on April 05, 2022, 11:25:29 AM
Post by: Igor on April 05, 2022, 11:57:03 AM
Mind boggling !!
Post by: pianoman9701 on April 05, 2022, 11:57:36 AM
THIS, irritates me so much with my current home construction loan. Builders have taken so long I've missed all the good rates. Was supposed to be finished and delivered last Aug......hopefully by the end of this month! Yes I know still good rates when compared historically, but damn!!
Fred, speak to your mortgage broker about lock & shop for up to 90 days. You pay a little more in interest now but are protected against the giant swings that people are predicting.
Post by: Bob33 on April 05, 2022, 12:48:21 PM