9/23 wtf. Wells Fargo w/9.14% APR jumbo (non-conforming) 30-year fixed in CA.
\_ Welcome to a shitty shitty economy.
\_ My parents had a loan at 13% in the early 1980s. You do realize
that this 5-6% stuff is at or near all-time lows, right?
\_ Yeah, I feel really sorry for those poor SOBs who have been
trying to time the housing market and missed out on a once
in a lifetime opportunity to borrow at 5.25%.
\_ Yeah, sure now that $600,000 house is $350,000, but at 5.25%
it totally would have been worth it.
\_ Prices in my neighborhood have not gone down at all. I
guess they have gone down in places like Antioch and
Gilroy, so if you were shopping there, I guess you are
right.
Gilroy, so if you were shopping there, you are right.
\_ If rates go up, prices go down, and the market stagnates.
Not a good time to own OR buy.
\_ I'd disagree, now is a great time to buy if you are willing
to sit on a place for a minimum of 5-7 years. Prices are
great and cash is king. I've been finding great deals
in rental property.
\_ Where are you that prices are great? They just aren't
suck.
\_ It's a great time to own. The only better time to own
was before I did. I don't think people who bought in 1958
are too worried about it being a bad time "to own".
Bad time to buy? Maybe. Bad time to own? Never.
\_ Sorry, bad time to have recently bought.
\_ Or to sell.
\_ Put another way, I would hate to be someone who wanted to sell
a property. As someone interested in the highest sale price, I
would want the easiest loan terms possible (no down, no doc, stated
income, option ARM, low interest rates). bank gives me the purchase
money, i've converted the property to cash--my hands are clean. |
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