mortgage interest rates: My first home purchase mortgage rate was 18%
- 04/14/23 10:12 AM
When I purchased my first home in 1981, mortgage brokers could not lock in buyers at a rate because they were escalating by the day....so my first home purchase mortgage rate the minute I closed in St. Louis, MO was 18%.... and I was darn glad to get it before it went even higher!
Today’s homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they’ve found their tipping point.
After years of government intervention following the great recession and the first years of the Covid-19 pandemic that kept mortgage rates artificially low, today’s buyers have a skewed view of what … (2 comments)
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mortgage interest rates: CNBC just reported "Housing recovery may not be over"
- 08/23/18 11:55 AM
A slew of negative housing numbers for July are piling up on top of a slew of negative housing numbers from the last several months.
Sales of new and existing homes are falling, construction of single-family homes is basically flat for the year, mortgage rates are rising and affordability is weakening. It certainly feels like the housing recovery that really took off in the last four years has come to a grinding halt, but it hasn't.
Is the ultra-hot and competitive housing market cooling off? Absolutely. Home prices rose too far, too fast, and the market is now hitting a price … (0 comments)
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When I purchased my first home in 1981, mortgage brokers could not lock in buyers at a rate because they were escalating by the day....so my first home purchase mortgage rate the minute I closed in St. Louis, MO was 18%.... and I was darn glad to get it before it went even higher!
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