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Mortgage rates hit a 23-year high
Mortgage rates surged to a 23-year high this week, landing another blow on the housing market.
The rate on the average 30-year fixed mortgage increased to 7.31% from 7.19% the week prior, according to Freddie Mac. That’s the highest rate since mid-December 2000, when it averaged 7.42%.
- Yahoo Finance
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NBA Superstar
Re: Mortgage rates hit a 23-year high
Was bound to happen, they wanna slow the demand somehow, you cant just cover the planet in houses forever.
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Re: Mortgage rates hit a 23-year high
In-N-Out burger is probably behind this
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NBA lottery pick
Re: Mortgage rates hit a 23-year high
I just never understood why people who arent flipping took out variable mortgages a few years ago. I warned them...
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NBA lottery pick
Re: Mortgage rates hit a 23-year high
It's ****ed. Luckily I bought a long time ago but I have a buddy who bought a place recently and went from $3000/month to $4000/month.
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The Renaissance man
Re: Mortgage rates hit a 23-year high
Originally Posted by rawimpact
I just never understood why people who arent flipping took out variable mortgages a few years ago. I warned them...
Variable mortgages are risky in most situations. Even when things are going well, you never know how things will turn out.
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Re: Mortgage rates hit a 23-year high
In related news, mortgage delinquency is at a historic low right now.
The people that do own homes are making sure they keep them.
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