DEAL-BREAKER!: Mortgage rate increase THREATENS BOOM!
So the 30yr mortgage rate went from 3.93% to 4.46% over the weekend! Holy cow!
Could that be the reason Mortgage rate applications fell 3%?
It would make sense!
How do you feel this will affect REI? Buying and Holding?
LINK: http://www.usatoday.com/story/money/2013/06/27/mortgage-rates-6-27/2463333/
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Jon Holdman
#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
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- Mercer Island, WA
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Youngsters! First rental I bought waaaay back in 2008 was at 6.875%. Since refinanced.
First house I bought was in 1987. An owner carried 15 year mortage at 9%. And that was a good rate.
In 1982-83 OO rates on 30 year mortgages were 15%. Houses were selling like hotcakes.
4.5% means the sky is falling? Hardly.