Originally Posted by Discuss Thrower:
Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.
So it’s a good thing I got locked in at 2.9 percent this month? [Reply]
My attorney told me he has 15 closing scheduled for next week then crickets. I've been monitoring the list of properties we were interested prior to buying and nearly all are price slashing, one slashed their price twice yesterday. [Reply]
Originally Posted by Discuss Thrower:
Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.
Care to elaborate on this or link to any reasoning?
Wife and I are currently building a house. Two months ago I was thinking, "Great...market is doing well and we shouldn't have trouble selling current home AND interest rates are pretty damn low and not expected to rise much if at all."
In the past few weeks, rightly or wrongly I've thought that while I'm still not terribly worried about interest rates rising too much by the time our build is complete, I've started being a little less confident in the ease of selling our current home.
As it stands, construction hasn't slowed down and builder doesn't foresee much change in original timeline, which is targeted at a late October completion. [Reply]
Originally Posted by Discuss Thrower:
If you're going to stay in the house for a time where the amount you spent in fees is saved in cheaper mortgage payments, sure.
My mortgage guy covered all the fees
And My next address after this one will be the cemetery [Reply]
Originally Posted by blake5676:
Care to elaborate on this or link to any reasoning?
Wife and I are currently building a house. Two months ago I was thinking, "Great...market is doing well and we shouldn't have trouble selling current home AND interest rates are pretty damn low and not expected to rise much if at all."
In the past few weeks, rightly or wrongly I've thought that while I'm still not terribly worried about interest rates rising too much by the time our build is complete, I've started being a little less confident in the ease of selling our current home.
As it stands, construction hasn't slowed down and builder doesn't foresee much change in original timeline, which is targeted at a late October completion.
Talk to a mortgage lender as soon as it's convenient. If your FICO score is above 650 you'll probably be fine. [Reply]
Originally Posted by Discuss Thrower:
Talk to a mortgage lender as soon as it's convenient. If your FICO score is above 650 you'll probably be fine.
It's been a few weeks since last contact but we've spoken to a few. Wife has perfect credit and mine comfortably in the 7's but not as good as hers.
We aren't planning on paying to lock super early but I guess we'll just be playing it by ear over the next few months and see what happens. My main priority right now is talking her OUT of selling the house in a few months and moving into a short term while the build finishes. That sounds like hell on earth to me. [Reply]
I've also seen prominent hedge fund types who seem to have done the same. Sort of surprised, but I guess it should be obvious by how fast we shot up that large buyers had to be moving it. [Reply]
Had to provide a handwritten letter to my mortgage underwriter stating my employment/income has not been affected by covid-19...1 business day before closing. [Reply]
Originally Posted by ChiliConCarnage:
Corporate Insiders bought the dip
Very interesting.
One thing I've thought about in the past (2009-2011) is that recessions are good for the big investors as long as they're short. Big investors can sit on losses for a while and buy when everyday people are desperate and worried about losing everything. [Reply]
Originally Posted by ChiliConCarnage:
Corporate Insiders bought the dip
I've also seen prominent hedge fund types who seem to have done the same. Sort of surprised, but I guess it should be obvious by how fast we shot up that large buyers had to be moving it.
Yeah. I’d have guessed that. But it’s an interesting chart. Where did you get it? [Reply]
Originally Posted by Buehler445:
Yeah. I’d have guessed that. But it’s an interesting chart. Where did you get it?
Corporate insiders are going HAM (finally)
"The ratio of companies with insider buying compared to insider selling is at 1.75 for March, its highest level since March of 2009" pic.twitter.com/jOnW7R7Wps
Originally Posted by scho63:
Boeing already back to $160+ from $88 in a week. WOW
Big bounce on stimulus news
I have strong feelings about them and other commercial aircraft manufacturers. They are in big trouble. Boeing in particular because the 737 Max nightmare has yet to be resolved. Lots and lots of aircraft folks being layed off here in Wichita.
I've never traded options before but have considered buy some longer term puts on Boeing. [Reply]
