New home buyers ki assurance?

[Ravi860]

How people are signing new homes now? Ipudu unna rates chuskuni pareldu afford cheyachu anukuni chestunnara? (Assuming they can afford 6%)

Construction finish ayyi closing time ki rates 8%+ unte enti paristhithi? Can they lock rates now when signing a contract or anything else I am missing??

[matta_prabhu]

Rates will go till 18 percent uncle 

[matta_prabhu]

But we will keep on buying 1 M homes 

[desiboys]

first time homebuyers ki bokka but second and third time homeowners are paying with cash. 

[Ravi860]

11 minutes ago, matta_prabhu said:

Rates will go till 18 percent uncle 

Lol cmon no way 

[allbakara]

Not everyone is doing 30 yrs or 15 yrs loan, there are other options like 5/1, 7/1 ARMs with lower interest rates

[Aquaman]

mostly people who are buying are 

second job vallu , high downpayment tho

or

existing home ni ammi with high profit , buying new home with high downpayment .

or

couple working with no issues of monthly payment.  

 

This market situation doesn't workout for everyone.

manaki situations ki workout avuthe ne munduku vellali.  Refinance works out only when you have enough equity , don’t bank on it .

 

[Aquaman]

45 minutes ago, allbakara said:

Not everyone is doing 30 yrs or 15 yrs loan, there are other options like 5/1, 7/1 ARMs with lower interest rates

Current situations lo ARM and 30 yrs rates are similar , can’t avoid higher rates now. 

[JAMBALHOT_RAJA]

Friend closed a house last week with 4.7% rate 5/6 ARM

[manchulomajjiga]

1 hour ago, Ravi860 said:

How people are signing new homes now? Ipudu unna rates chuskuni pareldu afford cheyachu anukuni chestunnara? (Assuming they can afford 6%)

Construction finish ayyi closing time ki rates 8%+ unte enti paristhithi? Can they lock rates now when signing a contract or anything else I am missing??

Interest rate lite bro it will fluctuate and you can refinance it laterr . But sticker price will nt change once you sign it . Intha inflated and unreal prices ki ela sing chestunnaru anedhe surprise ! Adigithe okka maata cheptunaru equity build avudi ani but at what cost ! At the end of the day with these prices you may actually get better returns by taking tbonds or just buy spy! 

[Ravi860]

12 minutes ago, manchulomajjiga said:

Interest rate lite bro it will fluctuate and you can refinance it laterr . But sticker price will nt change once you sign it . Intha inflated and unreal prices ki ela sing chestunnaru anedhe surprise ! Adigithe okka maata cheptunaru equity build avudi ani but at what cost ! At the end of the day with these prices you may actually get better returns by taking tbonds or just buy spy! 

Agree home price is what one need to look for before signing up. It will also impact refinance if one buys overpriced home and negative equity 

[Anta Assamey]

15 minutes ago, JAMBALHOT_RAJA said:

Friend closed a house last week with 4.7% rate 5/6 ARM

Which bank is giving 4.7% now ?..

[*Prince Charming]

2 hours ago, Ravi860 said:

How people are signing new homes now? Ipudu unna rates chuskuni pareldu afford cheyachu anukuni chestunnara? (Assuming they can afford 6%)

Construction finish ayyi closing time ki rates 8%+ unte enti paristhithi? Can they lock rates now when signing a contract or anything else I am missing??

Inflation peaked antunnaru, so rates will come down soon and settle somewhere between 5 and 6-6.75%. Also, sign chesaa closing ki mundu ye rate unte Ade istunnaru. Also, mindset ela undi ante ippudu 6% ki ready aina vallakai 7% Unna no one is bothered much

[Pavanonline]

2 hours ago, Ravi860 said:

How people are signing new homes now? Ipudu unna rates chuskuni pareldu afford cheyachu anukuni chestunnara? (Assuming they can afford 6%)

Construction finish ayyi closing time ki rates 8%+ unte enti paristhithi? Can they lock rates now when signing a contract or anything else I am missing??

Bro neeku buying power unte konu lekapothe keep renting. Don't break your head on how everyone else is doing. This will take you nowhere other than losing mental peace. 

[manchulomajjiga]

3 hours ago, Ravi860 said:

Agree home price is what one need to look for before signing up. It will also impact refinance if one buys overpriced home and negative equity 

True people are thinking its so easy to refinance ! And once you pay the stuff for an year i believe the pinch of higher rates will start