Anonymous wrote:

Anonymous wrote:I wouldn’t be surprised if we get bavk to 4 or 5 percent in five years or so. There has been a secular decline in interest rates across the world in recent decades, so the post-pandemic increase in inflation-and hence rates- may turn out to be something of a blip.

Huh?

look at the first chart on this page:

https://www.nber.org/digest/nov19/secular-stagnation-and-decline-real-interest-rates

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Hahaha, no. Houses are FLYING off the market right now, PP. You have no idea.

Yes. There is no supply. So few people want to give up the low low mortgage they locked in during the pandemic. Boomers want to age in place. Millennials are hitting peak earning years and starting families. The other problem is you don’t want to sell if you can’t find your next place. It’s a bit of musics chairs.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Hahaha, no. Houses are FLYING off the market right now, PP. You have no idea.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

No, I wouldn’t count on that. The economy would really have to be in the shitter. And Biden’s economy is roaring.

Maybe if Trump or DeSantis get into the White House and make a mess of things like Republicans tend to do? But even that would take some time.

This has to be a joke.

No. A joke involves a priest, a rabbit and an imam walking into a bar and the rabbit quipping that he's obviously a typo.

It's well-established that Republican presidents screw up our economies and Democratic presidents fix the Republican messes.

Look at Bidenflation right now. Are you that blind!? You have to be a troll.

She’s not purposely trolling. She’s just a moron blinded by partisan allegiance.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Except that hasn’t proven to be true. At least not in this area. If anything, the lack of inventory is driving prices up.

Agreed. And one reason inventory is so low is because many would-be sellers don’t want to give up their 3% mortgages.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

No, I wouldn’t count on that. The economy would really have to be in the shitter. And Biden’s economy is roaring.

Maybe if Trump or DeSantis get into the White House and make a mess of things like Republicans tend to do? But even that would take some time.

This has to be a joke.

No. A joke involves a priest, a rabbit and an imam walking into a bar and the rabbit quipping that he's obviously a typo.

It's well-established that Republican presidents screw up our economies and Democratic presidents fix the Republican messes.

Look at Bidenflation right now. Are you that blind!? You have to be a troll.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Lol! Where are you posting from? Nebraska?

Anonymous wrote:I wouldn’t be surprised if we get bavk to 4 or 5 percent in five years or so. There has been a secular decline in interest rates across the world in recent decades, so the post-pandemic increase in inflation-and hence rates- may turn out to be something of a blip.

Huh?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Homes are still going quickly in my neighborhood even at the higher comp prices. Some are going for over ask. So no, sellers don’t seem to care that the monthly payment for buyers is higher. If the market wasn’t bearing the listing price then sellers would have to drop price because they weren’t getting offers. But I guarantee you a seller isn’t going to care if you come to them with a sob story about interest rates.

I wouldn’t be surprised if we get bavk to 4 or 5 percent in five years or so. There has been a secular decline in interest rates across the world in recent decades, so the post-pandemic increase in inflation-and hence rates- may turn out to be something of a blip.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

No, I wouldn’t count on that. The economy would really have to be in the shitter. And Biden’s economy is roaring.

Maybe if Trump or DeSantis get into the White House and make a mess of things like Republicans tend to do? But even that would take some time.

This has to be a joke.

No. A joke involves a priest, a rabbit and an imam walking into a bar and the rabbit quipping that he's obviously a typo.

It's well-established that Republican presidents screw up our economies and Democratic presidents fix the Republican messes.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

The price of a home has nothing to do with interest rates on a mortgage.

That’s not true — if rates go up enough that buyers can’t afford current prices at current loan rates, prices will have to fall. It’s just that that’s an aggregate phenomenon and not an indicator that you can bid low on the particular house you want to buy. But the basic idea that raising rates will lower home prices is a significant part of the reason the Fed is raising rates.

This is just your intuition. The empirical evidence suggests otherwise. You seem to believe that prices will move down in lockstep with rising rates. But there are many reasons that won't happen. First, incomes increase as well in this scenario (and they have), which also affects affordability. Second, not everyone needs a mortgage. There are a lot of cash buyers out there. Third, even those who need a mortgage get creative to make things more affordable -- 40- and 50-year amoritzations, etc. A wise financial decision? Of course not, but it happens. We see this already in cars -- 7-year loans are increasingly common (again, stupid to take and will certainly create macroeconomic problems down the road, but it's helping cars get sold now). And fourth, people just buy less house.

Housing prices simply are not as elastic as you seem to think they are. But the biggest problem with the mentality you have is that you seem to think a buyer *deserves* a lower price because rates have risen. That simply isn't the case. It doesn't work that way.

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

No, I wouldn’t count on that. The economy would really have to be in the shitter. And Biden’s economy is roaring.

Maybe if Trump or DeSantis get into the White House and make a mess of things like Republicans tend to do? But even that would take some time.

This has to be a joke.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

The price of a home has nothing to do with interest rates on a mortgage.

That’s not true — if rates go up enough that buyers can’t afford current prices at current loan rates, prices will have to fall. It’s just that that’s an aggregate phenomenon and not an indicator that you can bid low on the particular house you want to buy. But the basic idea that raising rates will lower home prices is a significant part of the reason the Fed is raising rates.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful.

Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did.

Why would the seller care? I am not understanding what you mean.

- np

Sellers care because there are fewer buyers due to the interest rates.

Not in desirable areas