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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 wrote: 4.625 is still a really, really good rate. My first rate was over 6%. Anything sub-5% is a great deal historically. If you can’t manage a mortgage at that rate then you are looking outside your price range. Adjust your expectations and you will be fine. a little piece of me dies everytime someone says this. you are ignoring the PRICE OF THE HOUSE. When your first rate was over 6 percent, houses were significantly cheaper than they are now. the issue right now is the inflated home prices ALONG with the moderately high interest rates.[/quote] This is why prices will go down. The interest rate does affect the prices unless there are a lot of people out there paying cash (and that could be for all I know). [/quote]
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