Homeowners BTFO. Mortgage rates SURGE to 6.18%

Lube up boys it's coming fast.

Doesnt this only effect people trying to buy a house? If you already mortgage a house this wouldn't effect you so its not homeowners BTFO its non homeowners like you who are BTFO.

I bought my house in July 2012 and have a 3% 30 yr fixed mortgage, only 925 per month for a 2 story 1500 sq foot home in Florida with a 1500 sq foot yard. Just go back in time to 2012 bros geez

A lot of homeowners overbought because of “muh cheap rates.” Paid $500k for a home about to be worth $180k

Real homeowner here, dont compare me to those mortgage enslaved peasants.

I bought a house with my wife and have a 3.125% mortgage. It has an attached apartment that I rent out and i have a nice 2 acres and a pond.

I think I'll be ok lol

good time to be a renting wagie eh?

The intelligence of rentoids on full display. No concept of fixed-interest kek

At yet, being mortgage free means I don't give a fuck what rates are, who's the retard now?

My $540k house has a monthly mortgage payment of $2280/month due to my insanely low rate. To get the same monthly payment at 6.18%, I would need to have a $280k home. Will my house value go down in a recession? Sure. But if I’m not moving, I will be just fine. Cope and seethe.

Aren't fixed interest rate mortgages only available for up to five years out?

To match your 9” hog, super model wife, and multimillion dollar portfolio, right? You must be 18 to post here, kid.

>tfw at 2.75% fixed

you

I own my home, I don't intend to sell it. Can you explain how this is my problem?

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No, I’m the US our fixed rate mortgages are 15 and 30 year notes. Some places do 20 and 40 but those are rare. The rest of the world gets hosed by resetting rates.

>about to lose half your equity
>telling others to cope and seethe

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Because of Beta

its pretty funny desu. im locked at 4%. do they not get the point of a fixed rate mortgage? fixed ... as in unmoving. why do zoomers post here? is twitter not sufficient?

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> homeowners
I hate how people that still owe money use that term.

My mortgage rate is fixed, this is literally not my problem.

Historical average is 8%. 6 is not a big deal

y-your taxes and insurance don't change?

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I’ve a 30 yr fixed at 3.7 that I refi’d at 2.9 for 30 more. My initial purchase price was 110k and it’s now valued at 240k after 4 years.

correlation between interest rates and asset price

so if anyone was thinking of selling will likely find their house value going down and a new mortgage on the new house at a much higher interest rate

best to stay put if possible, thus not caring what the interest rate or housing value is

gz user

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6% interest rates with current home values is an unsustainable mix.

It benefits you. As rates go up, home value goes down and tax rates go down

me waiting for boomers to die, house prices to tank, my big tech options to vest, and the look on their faces when I steal their precious houses for pennies on the dollar on their dying breath

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>he bought a house as an investment vehicle instead of a home
NGMI

MUH ZILLOW ESTIMATE

Your house is worth shit until you try to sell it and successfully did so

i'm in a weird situation, it was me and a parent. it was the parent's home, the parent died recently, the house is not in my name but still the parent's name, I just continue to pay my mortgage with cash at the bank every month.

No idea what to do here, guess i'll just keep paying, they can't kick me out if I keep paying.

the hero we deserve

Consult a lawyer yesterday

My real estate agent sends me recent sale comps

Partys just getting started, double digit mortgage rates are a given.

notoriousrob.com/2022/06/finally-no-bid-on-mbs/

cherrycreekmortgage.com/lous-credit-news

youtube.com/watch?v=lkllvn-t9Vw

youtube.com/watch?v=Z7pqgjAB63I

Is the house price crash going to be worse than 08? The 08 crash was stopped from happening by slashing rates to zero and starting up QE. The crash that started in 08 is now about to finally complete and normies are about to find out how big of a bubble property is in!

housepricecrash.co.uk/forum/index.php?/topic/63233-repost-bubble-bursts-first-snows-of-k-winter/ 15 year old call about to play out right when he said it would.

business.inquirer.net/320459/keep-calm-winter-has-arrived

Affordability will cease to exist for the majority
mymortgageinsider.com/1-percent-rate-increase-11-percent-price-reduction/

Some of you will watch your house deposits turn into a cash offer before this is all over!

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>calls others retards
>claims that interest rate is 2.5%
>also claims that inflation is 9%
>is so fucking retarded that he doesnt realise they will raise interest rate to lower inflation
>will have to pay 9% interest rate at next renegotiation
>refusing to pay off extremely cheap debt and will instead wait for it to become ultra expensive debt
>actual literal nigger tier IQ retard
>again, has the complete lack of self awareness and calls other "retard"

How am I btfo by a 6% rate with my current 2.39% rate please explain

Also I bought in 2020 in the zip code that gained the most value percentage in 2020-21. House went up $110k. I don't expect housing here to crash.

The estimated decrease in value is 30% aprox.

If you can sell now and buy in 18 months, do so.

Rising interest rates just fucks over potential buyers. If anyone with a mortgage didn't lock in a low interest rate while they were historically low, then they are absolutely retarded. The housing market is still largely defined by a shortage of homes, so home prices are unlikely to collapse

Housing will hold its value better than your Bitcoin. Dipped under 20,000 today.

All hard assets will hold up better than paper/digital assets.

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I see. Lets play your game then. If I am paying a mortgage, I am better off just making the monthly payment and not paying off what I can in the terms, according to you. If I am indeed mortgage free I am still retarded because of reasons. You burgers are such an ignorantly belligerent people. It's really past a stereotype and into factual truth.

You are correct, you're fine. OP is a retard who doesn't understand how the housing market works

>they’ll raise your FIXED interest rate!!!

You’re a retard