Current mortgage interest rates enthaki ostunnayi? emanna taggacha by eod?

[rmJU72]

It looks like housing prices will go lower in the next few months. But if you are still planning to buy, taking a 5/1 or 7/1 arm is better as after the current inflation is taken care of, fed could lower the rates slightly. You could refi then to a lower rate.

Worst case the rates are unchanged or higher after 5 years, and you will have to refi then to another 5/1.

[Guest]

32 minutes ago, veerigadu said:

End of the day antaa

End of the decade antanna 

[Sqaud]

13 minutes ago, Kurrodu1 said:

current rate 6+, October nundi rates might come down some ani oka experienced mortgage officer briefed. 

ye October? 2024 aa

[Kurrodu1]

32 minutes ago, Sqaud said:

ye October? 2024 aa

this October, 2022

[neneno1]

ee high interest valla new homes purchases taggutayi...how will rental market be?

I wrote the contract for a new purchase many months back assuming I can sell my current condo (2.625 interest for this condo)

Can i expect the rental market to go up?

[Thokkalee]

3 hours ago, rmJU72 said:

It looks like housing prices will go lower in the next few months. But if you are still planning to buy, taking a 5/1 or 7/1 arm is better as after the current inflation is taken care of, fed could lower the rates slightly. You could refi then to a lower rate.

Worst case the rates are unchanged or higher after 5 years, and you will have to refi then to another 5/1.

Don’t take ARM loans unless you plan on selling the home after 5 years… ARM loans are prohibitively expensive when you add up all the interest you pay by the time the loan is cleared.. 

[Thokkalee]

6 minutes ago, neneno1 said:

ee high interest valla new homes purchases taggutayi...how will rental market be?

I wrote the contract for a new purchase many months back assuming I can sell my current condo (2.625 interest for this condo)

Can i expect the rental market to go up?

Rental market will only go up.. with home sales going down and interest rates so high, people will continue renting as they cannot afford to buy a home..

Rental market never goes down unless you live in an area where people are moving out or in a high crime area.. 

In short, don’t sell your condo.. unless you badly need money.. 

[raccharambola]

4 hours ago, neneno1 said:

Current mortgage interest rates enthaki ostunnayi? emanna taggacha by eod?

EOD enti boss? until next year intrest rates taggakapovacchu

[rmJU72]

2 hours ago, Thokkalee said:

Don’t take ARM loans unless you plan on selling the home after 5 years… ARM loans are prohibitively expensive when you add up all the interest you pay by the time the loan is cleared.. 

pros and cons everywhere. paying lower interest now is always better. when refinancing next time too get the rate with lowest upfront cost.

also most people upgrade home in 7-10 years max. so its not needed to over plan based on full loan repayment in 30y

[Thokkalee]

22 minutes ago, rmJU72 said:

pros and cons everywhere. paying lower interest now is always better. when refinancing next time too get the rate with lowest upfront cost.

also most people upgrade home in 7-10 years max. so its not needed to over plan based on full loan repayment in 30y

When you refinance, you will start paying fresh interest on the outstanding amount all over again.. and you will pay a whole lot of interest in the first few years.. 

If you really plan to sell your house in 7 years, better go for 7/1 ARM

[rmJU72]

Yeah calculate based on interest difference between 5/1 and 7/1, and time you will own the house

[Gorantlamdhav]

7 hours ago, neneno1 said:

Current mortgage interest rates enthaki ostunnayi? emanna taggacha by eod?

Rates taggavu , taggina kuda 4-5% lo vuntay next 10 years varaku.nuvu kontey konu ledantey lite but interest chudaku home price chusko

[dasari4kntr]

EOD. Ante end of decade…ane kadaa antunnav…?

[neneno1]

53 minutes ago, Thokkalee said:

When you refinance, you will start paying fresh interest on the outstanding amount all over again.. and you will pay a whole lot of interest in the first few years.. 

If you really plan to sell your house in 7 years, better go for 7/1 ARM

Interest rates will be based on the outstanding loan amount each month. So it shouldnt matter if it is 5/1 or 7/1 or 30 fixed kada..

even if you dont refinance you will pay interest on outstanding loan..

[Thokkalee]

11 minutes ago, neneno1 said:

Interest rates will be based on the outstanding loan amount each month. So it shouldnt matter if it is 5/1 or 7/1 or 30 fixed kada..

even if you dont refinance you will pay interest on outstanding loan..

In ARM loans, the interest rates increase by 1% or so after the initial loan term (5 years), the rate increases every year.. you will end up paying more and more interest instead of principal as in a fixed rate loan..