What would it take for you to give up a 2.75% 30 year fixed rate?

[Anonymous]

Right, if there really were global warming banks would stop financing mortgages ocean side. Good try.

[Anonymous]

would take some sort of dramatic event. we outgrew our house so we just started a 1000sq foot addition along with totally reconfiguring the layout. still cheaper than moving. We are even putting in a full bath on the main level and an office attached that can one day be converted into a bedroom. this allows us to age in place.

[Anonymous]

More disposable income. I'd like a bigger house in my current neighborhood, but I can't afford one. This was true when rates were lower, so it's not about rates.

[Anonymous]

I have to move. Switched kids’ schools. 25 min away. I will be giving up the rate.

[Anonymous]

Anonymous wrote:would take some sort of dramatic event. we outgrew our house so we just started a 1000sq foot addition along with totally reconfiguring the layout. still cheaper than moving. We are even putting in a full bath on the main level and an office attached that can one day be converted into a bedroom. this allows us to age in place.

This is what we are doing too.

[Anonymous]

Anonymous wrote:Right, if there really were global warming banks would stop financing mortgages ocean side. Good try.

Omg what?! Please tell me you are joking.

[Anonymous]

Locally, I would not give up my rate. When youngest graduates we may relocate, but then we would just pay cash. Doubt we will have another mortgage.

[Anonymous]

If I could buy something with cash

[Anonymous]

Anonymous wrote:

Anonymous wrote:Right, if there really were global warming banks would stop financing mortgages ocean side. Good try.

Omg what?! Please tell me you are joking.

NP, joke or not, you did seem a bit anxious telling people not to buy coastal. Banks aren't blocking mortgages on coastal properties, which means banks don't see them as high risk.

[Anonymous]

When I can pay cash for the next house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Right, if there really were global warming banks would stop financing mortgages ocean side. Good try.

Omg what?! Please tell me you are joking.

If the new owner can't get homeowners insurance for the property then the bank won't allow the loan. It's happening more and more as insurance rates climb.

[Anonymous]

I did this to escape my abusive ex. Walked away from the marital house and bought a new one with very little down, a 7.5% rate, and a correspondingly high monthly payment.

I would do it a hundred times over. That’s how bad it was. I hope his next wife seriously questions why someone would do that to escape him, before walking down the aisle.

[Anonymous]

This conundrum is basically the bane of my existence right now.

I HATE our neighborhood just because it's primarily elderly and we are a young family, neighbors don't engage with one another, not walkable but it's super safe, a fantastic public school district, our house is a large corner lot next to a playground so alas the 3% interest rate is keeping us here.

We both grew up teetering between LMC and MC and just can't get past the mental block of making a poor financial decision and letting go of a $2200 PITI for a 5bd/2ba home in a great school district.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What would it take you to sell and buy something else?

Wanting to move.

+1 We wanted to move to a different State, so we gave up our low mortgage rate. Paid cash for the next house though.

[Anonymous]

Anonymous wrote:This conundrum is basically the bane of my existence right now.

I HATE our neighborhood just because it's primarily elderly and we are a young family, neighbors don't engage with one another, not walkable but it's super safe, a fantastic public school district, our house is a large corner lot next to a playground so alas the 3% interest rate is keeping us here.

We both grew up teetering between LMC and MC and just can't get past the mental block of making a poor financial decision and letting go of a $2200 PITI for a 5bd/2ba home in a great school district.

It will turn over as the elderly neighbors die. I would give it some time, OP. Sounds really great otherwise.