If you were playing in buying a home, are you still going through with it or no longer in the market?

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Still going through as the rent is high and there would be some equity that will get built up…can alway refinance when the interest goes doen

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Depending on your local market, I doubt prices are likely to go down. Rent on the other hand will go up, since interest rates have disqualified many from being able to buy a home. Best move right now is to buy, if you can afford it, and refinance when the rates inevitably come back down the road.

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On hold due to family financial situation.

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Additional Posts in Interest Rates

What interest rate have you been quoted as of late?

What will interest rates be come December?

funny

As the interest rates continue to rattle the market, how have they affected your personal situation?

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How many quotes have you gotten for interest rates and overall costs?

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If both are priced relatively similar, which would you choose: new construction or existing home?

Looks like interest rates have stabilized. What, if anything, could cause them to start increasing again?

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Mortgage rates jumped in the last couple of weeks to 6.28% because of inflation data, as well as the fed increasing rates by 75bps. If the fed sticks to their plans (Jul rate inc if 50bps/75bps; followed by 3 inc of 50 bps), will rates continue to range between 5.75-7%?

Purchase a new build recently? How long is the estimated construction timeline?

After todays announcement of a fed rate hike of 75 bps, Mortgage rates over the next couple of months will likely remain within 0.25% to 0.50% of todays range. Unless the fed throws a curve ball in their remaining meetings, the remainder of rate hikes have already been baked into mortgage rates currently being offered.

For anyone that has used Lennar’s in house lender, Lennar mortgage, how do their rates compare against competitors?

Is 560K for a 3 bedroom low ranch in Ronkonkoma, long island a good deal right now?

funny

A recession is already here. Inflation is still high, although hope hopefully peaking. Realistically I don’t see the fed dropping rates until 2024-2025. What will it take for the fed to reverse course and decrease rates?

What interest rates have you been quoted lately?

Who is offering HELOC on second home with occasional Abnb rentals done.

Some.banks immediately turn this into an investment property and deny that.

Don't want to cash out refinance as underlying mortgage is <3% and fees plus new cost to carry are not worth it.

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Whom would you opt for, Builders lender or traditional lender for new construction?

Under current circumstances, fixed rate or adjustable mortgage rate?

Based on the current environment, if interest rates rise to what percentage, will you forgo buying a house for now?

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