Contrary to what people were saying, mortgage rates are actually falling even though Fed raised the rate.
30 year is at 3.75%, 15 year at 2.85%.. That's lower than it has been for the past 5-6 months....
https://finance.yahoo.com/rates/
Those who kept saying mortgage rates were going to skyrocket once Fed raised rates clearly were wrong, again.
And we haven't even started QE4 and QE5 yet (you know it's coming)
Banks can't afford to jack up interest rates in an election year. If they trigger another episode like 2007-2008 derivatives failure and the ensuing recession, Obama isn't going to give them a f---ing cent. And any candidate who wants to be elected is going to hold to that hard line, as well. It still stinks that in 2007 the banks received a trillion dollar bailout, and now that they are experiencing record profits, the rest of us are being gouged for using our own money in checking account fees, EFTs, etc., while receiving negligible interest on savings.
@FN5jdvk-ehr. We have those too. But not nearly as entertaining as the ones that say renting indefinitely always is better than owning, especially the ones that rent for 10+years.
@FN5jdvk-ehr. We have those too.
must be like the lunatics who say housing only goes up, and that Carmel Valley is cool
@FN5jdvk-gum, there were quite a number of lunatics that were saying here that once the Fed jacked up a quarter point, mortgage rates would go through the roof and home prices would fall 40-50%... Of course, I haven't seen many of them post recently. I guess they are too busy dealing with being unemployed and in a much worse financial situation themselves, probably in the energy and/or retail sector, lol.
flight to "safety" of MBS in this NIRPY environment.
Who actually said rates would skyrocket after 25 bps hike? Nobody.