Mortgage rates

GatorCatsi

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Most of us just kind of jokingly agreed to pay attention to Kansas. No one expected you to actually move there.
:lol: We're going there for 2 years to spend time with our youngest grandkids. Then likely headed to either the Mountain West or possibly the Melbourne area for our final move.
 

FireFoley

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Maxine Waters is a disgrace and nothing but a racist. I saw her intro today and basically she was ordering each financial institution that was called to testify today to give any mortgagee a mortgage reduction. Also how embarrassing that the Chair of the House Finance Committee (Waters) can't properly pronounce the CEO's last names of the US's largest financial institutions. She called Scharf of Wells Fargo something like "Sherriff" and she called Moynihan of BofA "Monahan". She asked Dimon of JP Morgan if he would commit to blanket mortgage reductions for anyone and he flat out said "NO"!
 

alcoholica

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Maxine Waters is a disgrace and nothing but a racist. I saw her intro today and basically she was ordering each financial institution that was called to testify today to give any mortgagee a mortgage reduction. Also how embarrassing that the Chair of the House Finance Committee (Waters) can't properly pronounce the CEO's last names of the US's largest financial institutions. She called Scharf of Wells Fargo something like "Sherriff" and she called Moynihan of BofA "Monahan". She asked Dimon of JP Morgan if he would commit to blanket mortgage reductions for anyone and he flat out said "NO"!
That James Brown lookin' motherfuchser is dumb as hell....

 

GatorCatsi

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There are already tons of stories out there about how fast housing is falling off after March and save for a few weekly upticks have been trending downward since February.
Is it falling off because of lack of demand or lack of supply?
 

CGgater

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That James Brown lookin' motherfuchser is dumb as hell....

I remember when the news hit the radio that then-President Obama doubled the interest rates on student loans. I believe it was around the same time he was trying to finalize the "AFA."

Edit: and just to emphasize what's going on... the same party who is to blame for the increased student loan debt is the same party trying to place the blame corporate America.

Any of the local dems on this board care to explain? What am I missing here?
 
Last edited:

soflagator

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That James Brown lookin' motherfuchser is dumb as hell....



Moynihan can barely keep a straight face. Solomon in the beginning looks confused as hell at the whole angle she’s taking(everyone knows GS is at the forefront of the student loan crisis). Just a disaster. These things are always a checker/chess moment, but they’re markedly worse when Waters has any part.

The truly embarrassing thing is that she’s re-elected again and again, in landslides. As FF brought out, this isn’t just a Congress woman. I don’t think it’s asking too much for the person who chairs the Finance Committee to have a general understanding of the goings on in that area other than just some “boo boo” statistics. The condescending tone she tries to use in speaking to people like Moynihan and Dimon, only to see them try to keep their composure and not bust out in laughter would be hilarious if it wasn’t real. And then assuming that it’s somehow their responsibility or obligation to “help out” people who took out bad loans in the first place is just incredible.
 

bradgator2

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I remember when the news hit the radio that then-President Obama doubled the interest rates on student loans. I believe it was around the same time he was trying to finalize the "AFA."

Edit: and just to emphasize what's going on... the same party who is to blame for the increased student loan debt is the same party trying to place the blame corporate America.

Any of the local dems on this board care to explain? What am I missing here?

Oh that's easy: It'd due to systematic racism

( a vague, non-specific answer, that has nothing to do with your question, and has no end goal of how to actually fix, and lays the blame on everyone else)
 

Concrete Helmet

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Is it falling off because of lack of demand or lack of supply?
Both plus the cost of materials although that is starting to correct over the last 2-3 weeks...Throw in the banks are tightening their wallets to cover both asset and future assets losses...
Not sure if anyone else prescribes to the Gold vs. Lumber theory but Lumber is starting to have a correction while Gold is starting to go straight up(minus today)...the theory is based on the fact that the average American has most of their wealth locked into their home(scary, I know)so when you see big money flocking to Gold it is telling you of the start of a RE turndown....The great recovery has already been priced into both the stock market and RE....What's the old saying "I have seen the mountain" or some sh!t like that....better get your risk off :lol:
 

BMF

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Both plus the cost of materials although that is starting to correct over the last 2-3 weeks...Throw in the banks are tightening their wallets to cover both asset and future assets losses...
Not sure if anyone else prescribes to the Gold vs. Lumber theory but Lumber is starting to have a correction while Gold is starting to go straight up(minus today)...the theory is based on the fact that the average American has most of their wealth locked into their home(scary, I know)so when you see big money flocking to Gold it is telling you of the start of a RE turndown....The great recovery has already been priced into both the stock market and RE....What's the old saying "I have seen the mountain" or some sh!t like that....better get your risk off :lol:

Where is a good source to see lumber prices?
 

Concrete Helmet

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Thanks TG! That's an interesting chart. It's shot up since late Oct 2020, with a short run up prior to that...but prior to July 2020 it seemed to stay pretty steady. Selfishly, I'm hoping it comes back down quickly.
The funny part about lumber shooting up is that the actual timber prices never really did. But yes both Lumber and copper have been correcting for about the last few weeks...
Now to be 100% honest I don't expect home prices to fall off the edge of a cliff anytime soon BUT I strongly believe we will see price corrections starting in August or so and continuing for quite a while. What most macro trends are starting to show is a slow shift away from peoples homes being their only priority(think slowing refis and HELOCS for improvements). The migration is past it's peak and even occupancy is starting to return to NYC, SF and other areas of Democommie shananigan's….people have short memories I guess.
 

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