A month ago, the 30-year-fixed rate bumped over the 4.50% mark, and we thought that with more Fed-taper looming, we’d be seeing 5% mortgages.
Look what’s happened since:
We’ve seen how improving rates tend to fuel the frenzy conditions. Now if there were just something decent to buy!
game on!!! I’m thinking of pulling some equity out for a new chevy silverado 4×4 2500. Gm is hurting again after their latest earnings disaster.
Cant they figure out its the price behind the poor sales?
Hmmmm……rates go down around the same time that new lower FHA loan limits are announced.
Coincidence??
Yes
Nobody cares about FHA and they should close it down. Private mortgage insurance can handle the load and is much cheaper.
I don’t sell Chevys though, avgjoe. I think you should buy another house! 🙂
I agree they should shut the FHA down. FHA financing is still about 35% of the total market financing but mostly for stuff that is lower end and not North County Coastal. I wonder if NCC suffers any effects if the low end market has to adjust to the removal of FHA financing. Probably not, but it has tended to be a follower rather than a leader of market trends. It took longer for NCC to get hit by the bubble and it took longer to get the frenzy conditions we’re seeing now.
I finished my post this morning, then saw this later – we think alike!: