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Real Estate
Reply to "got quoted for 4.625 percent 30 year fixed loan today (high conforming LTV of 85)"
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[quote=Anonymous][quote=Anonymous]Reducing one's purchase price will now leave the "middle class" priced out in a way? Those in the million dollar range will now reduce their budgets to lets say 850k, those with 850k budget may reduce their budgets to 600k and so forth and so on. [/quote] This. That market has also gone from a home that was easily 700K last year, pushing 850K this year and going 50K+ over asking. That's a huge $$ swing in what could be considered in budget. Add increased interest rates and most "middle class" are absolutely priced out of the market now. We bought small house a number of years ago just to get into the single family market with the intention of getting into a bigger house in a few years. A few years later and what we would be interested in, is now out of reach so here we sit.[/quote]
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