One of my best buddies told me all about how I needed to sell my house back in 2000. He droned on and on, insisting disaster was on the horizon. And of course the stock market was going to collapse. Fast forward to today.... My mortgage rate is 1.875% (10-year loan, taken out in July 2021), and my house went from $400k to $800k in value. Stocks went up 25% (granted, they've been flat for a year now). All smiles.
@Mortimer_Money_Coach
11 ай бұрын
1.875%?! And one of the few that chose a 10-year term. Good timing, good choices. Don't think we'll be seeing those rates again anytime soon...if ever. Good Stuff!! 👍
@ButcherBird-FW190D
11 ай бұрын
@@Mortimer_Money_Coach Yes Sir. And I meant to say he said to sell it in 2020, not 2000. My error. RE: Mortgage rates, summer of 2020 I worked for WAL-Bank in Phx, AZ. We purchased Amerihome in early-2021, and they were cranking through an incredible $320 million in mortgages PER business day. We'd bundle them and sell 'em to Freddie or Fannie every 8-10 business days. Anyway, so I was watching mortgage rates continually throughout the day. Saw a no cost (other than $1,400 in fees), 10-year at 1.875%, with no discount points. I was 5 years into a 15-year mortgage at 3.125%, so what the heck. 6 month breakeven; do it. Wowza. Am I ever so glad I did. Kept the same maturity, and lowered the payments by $220 per month. If it matters I am a retired FDIC capital markets specialist, still working in the finance world (CFO now, but at a small shop (130 Emps)). RE: Not seeing those rates again, any time soon. Yes Sir.... Rates change every second of every business day, but I can't see them going back down to those levels. Peace.
@ButcherBird-FW190D
11 ай бұрын
@@Mortimer_Money_Coach Ah, and as a statistical comment. Only 1 in 400 RE loans is below 2%. All are either 10-year or 15-year maturities. Ciao.
@daphneyleonidas4246
Жыл бұрын
I like it uncle Brad❤❤❤ Sammy and Alannah.
@americanhero1234
Жыл бұрын
You haven't taken "shadow inventory " into consideration. You are repeating what has incorrectly been said. Thete is house made sitting in texas but not reported...if you know----then you know.🤔🤔🤔
@Mortimer_Money_Coach
Жыл бұрын
Thanks for the comment. This video was mainly targeted to the average potential home buyer, who doesn't have easy access to these homes, not investors. Based on the census bureau data, I'm also not convinced we have as much hidden inventory as some are saying. And I certainly don't think we are going to see a flood of this inventory hit the market this year.
Пікірлер: 7