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Reply to "buying now or waiting another year?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] Mortgage rate 3% vs 5% is different situation. Cost of money has increased significantly in the last few weeks. Cap rate for buying and then collecting rent was whole lot different when rates were lower. There will be some fireworks if rates go around 6-7%. All investors money from housing will shift to treasury. I meant no investor will hold rental generating 3-4% if treasury yield 6-7%. Inventory will drastically increase in that situation. [/quote] Rates for any reasonably qualified buyer are not 5%. And rates may likely head back to the 3s in a year or two.[/quote] I just got 4 quotes for a 30yr fixed and all were in the high 3% (3.8-3.975). I had a 7/6 ARM for 2.6% ! Rates are still good if you look in the right places. Obviously relationship discounts and credit help immensely. [/quote]
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