Home loan Interest rates eppudu thaggochu - home buy eppudu cheyochu

[texas]

53 minutes ago, Picheshwar said:

@texas

2069 lo

[Peruthopaniemundhi]

3 hours ago, TechSri said:

Home loan interest rates US lo eppudu thaggochu

Thaggadam start avvadaki 2-3 years paduthundi.. but it depends on few things

1. economy 

2. Resolution of supply chain issues

3. obviously next election 

if you are looking for 3% loan for 30 years, it may take a decade. 5% is new normal.

[Fish]

3 hours ago, TechSri said:

Home loan interest rates US lo eppudu thaggochu

Forget about home interest rates….they will go up for next 2 years….30-40% inflated house prices should come down and we can’t predict as of now when the house prices will be normalized 

I feel it’s not right time to buy home….everyone is waiting in sidelines for the opportunity

[megadheera]

1 hour ago, TechSri said:

illu konalante ippudunna interest rates ki eppudu konte best. With this interest rate, i can not pay that much monthly mortgage. Kondaru ippudu theesukoni malli refinance chesuko antunnaru but i can not pay this much monthly mortgage with my salary. 

4% kina next year drop avutaya interest rates. 

Go for ARM instead of 30 yrs 

[Fish]

18 minutes ago, megadheera said:

Go for ARM instead of 30 yrs 

ARM kuda 5% undi and moreover Yee inflated prices lo ARM ki veladam kuda waste 

[sureshkonda]

10/1 or 3/5 arm if you can afford

[Thokkalee]

49 minutes ago, megadheera said:

Go for ARM instead of 30 yrs 

With ARM loans, the assumption is that you will refinance after the initial term (5 yrs for 5/1 or 5/7)… when you refinance your loan, you will start paying fresh interest again on the loan amount… so they are not good unless you plan to sell the home in 5 years.. 

 

[Thokkalee]

2 hours ago, TechSri said:

illu konalante ippudunna interest rates ki eppudu konte best. With this interest rate, i can not pay that much monthly mortgage. Kondaru ippudu theesukoni malli refinance chesuko antunnaru but i can not pay this much monthly mortgage with my salary. 

4% kina next year drop avutaya interest rates. 

the rates won’t go down.. you have to look at your affordability with the current rates now.. if you can pay 4K mortgage every month incl property taxes, wait until you get a home in that range.. home prices will go down in the next 2 years and in recession you will get good deals.. stay away from new homes.. old homes are your best bet as more people will try to sell their homes.. keep cash handy and make sure you are safe with your job.. 

With the current 5.25% interest rate, you pretty much pay the same amount for interest as the loan amount.. for eg: 100K loan for 30 years will be 100K principal + 100K interest… so, it is not advisable at these rates unless you get a good deal on the house.. 

 

[veerigadu]

15 minutes ago, Thokkalee said:

the rates won’t go down.. you have to look at your affordability with the current rates now.. if you can pay 4K mortgage every month incl property taxes, wait until you get a home in that range.. home prices will go down in the next 2 years and in recession you will get good deals.. stay away from new homes.. old homes are your best bet as more people will try to sell their homes.. keep cash handy and make sure you are safe with your job.. 

With the current 5.25% interest rate, you pretty much pay the same amount for interest as the loan amount.. for eg: 100K loan for 30 years will be 100K principal + 100K interest… so, it is not advisable at these rates unless you get a good deal on the house.. 

 

People are under false illusions about ARMs. Probably coz they don’t understand how amortization works. It’s no use especially if the interest rates does not go down. Also ARM is a big trap. In the first 5 years they are only charging interest and you won’t pay any principal. So with ARMs you are only paying interest and once you refinance Prople will have to pay interest again with new lender for the first 5 or 6 years. Their principal will not go down much even after 10 years 

[nijamena]

2 hours ago, TechSri said:

illu konalante ippudunna interest rates ki eppudu konte best. With this interest rate, i can not pay that much monthly mortgage. Kondaru ippudu theesukoni malli refinance chesuko antunnaru but i can not pay this much monthly mortgage with my salary. 

4% kina next year drop avutaya interest rates. 

Dont invest in anything if you can not afford. Some one made money will not guarantee your return.

 

Those who say you can refinance seems to be a naive. https://fred.stlouisfed.org/series/MORTGAGE30US Last 50 years.

[pakeer_saab]

2 hours ago, TechSri said:

illu konalante ippudunna interest rates ki eppudu konte best. With this interest rate, i can not pay that much monthly mortgage. Kondaru ippudu theesukoni malli refinance chesuko antunnaru but i can not pay this much monthly mortgage with my salary. 

4% kina next year drop avutaya interest rates. 

I think we are in cyclical mess

1. recession vaste they have to reduce interest rate

2. inflation reduce kavalante 8 quarters

there will be a period of 8 quarters before on can predict how low interest rates can go

most important part of not when you can refinance, part will be will you be able to survive recession with employment market on downtrend

if you have reserves to back you during bad times, go for it as you will get homes a bit affordable during this time

but if you cannot afford mortgage now itself, it means you are not ready for home buying, postpone and build reserves first

[pakeer_saab]

2 minutes ago, nijamena said:

Dont invest in anything if you can not afford. Some one made money will not guarantee your return.

 

Those who say you can refinance seems to be a naive. https://fred.stlouisfed.org/series/MORTGAGE30US Last 50 years.

you are right, based on historical trends and current sitation with global issues, next decade is going to be wars and high gas prices and high interest rates, interest rates taggina may come to same state at 6-7% but wont go below this

[sureshkonda]

dcu 3.88% for 5/6 ARM

[jua_java]

2 hours ago, TechSri said:

illu konalante ippudunna interest rates ki eppudu konte best. With this interest rate, i can not pay that much monthly mortgage. Kondaru ippudu theesukoni malli refinance chesuko antunnaru but i can not pay this much monthly mortgage with my salary. 

4% kina next year drop avutaya interest rates. 

Just wait for 6-8 months ! Housing market will correct and come back to its mean ! No one can stop it ! Dnt buy at today’s price ippudunna interest + inflated house price ki you will eventually end up paying a lot ! 

[jerry1]

2 hours ago, rmJU72 said:

Don’t buy now, just rent. Even if you buy home values will fall.

The goal of fed now is to kill demand in housing and other areas and slow down economy, and they are aggressively hiking rates to do it.

After after an year or two rates may come back to 5 only if the economy slowed down more than expected.

people didn't stop buying