How Long Will The Recession/Depression Last?

[sportsfan41]

What’d ya get.

 

I didn't get it, the girl did. She's still knocking down some student loan debt so she didn't want to commit to a large monthly payment. She wanted an SUV with a panoramic sunroof, heated leather seats and heated steering wheel. She found all of that plus a lot more in her 2017 Nissan Rogue SL Premium Package. It's nice.

[TheDeuce]

Kinda my thoughts. What’s she gonna do? Leave me? I was looking for a wife when I found her :lol2:

 

My man! :lol2: :lol2:

[John Anthony]

It’s 100% going to take a hit. But it doesn’t matter what the market value of your home right now or what the market value of your home is when the housing market reaches its low point. It only matters what it is when you want to sell it. The market won’t stay down forever.

 

Wait to buy then, a $25,000-$50,000k price drop is like a 1% interest rate drop, with only one closing cost.

 

What kind of rates are we seeing a lot of people aren’t dropping a lot because of too much paperwork?

[PurplePride92]

I think PP is trying to make a point that we should always be as compassionate towards those in need as we are gearing up to be. All of what you describe is every day America on a micro level.

 

Exactly!!!! And thank you. I apologize for not seeing this post sooner.

 

NOW we choose to be compassionate to those in need?

 

That’s rich.......and ironic.

[Bluegrasscard]

Steelcase has laid almost all hourly employees and has cut hours and pay of almost all salaried employees by 50%.

 

Businesses will not need a lot of office furniture in the near future.

[John Anthony]

Home applications fell 29.4 percent and the refinance index decreased 34 percent, according to the Mortgage Bankers Association weekly survey.

 

A lot of people sitting on the sidelines, which is what I advise as well.

[bugatti]

Home applications fell 29.4 percent and the refinance index decreased 34 percent, according to the Mortgage Bankers Association weekly survey.

 

A lot of people sitting on the sidelines, which is what I advise as well.

A lot depends on the market. My wife is in the mortgage industry and this is far and away the most busy she has been with her industry as well as their nearby competitors. They can't keep up. She is hoping it slows for her own sanity

[TheDeuce]

A lot depends on the market. My wife is in the mortgage industry and this is far and away the most busy she has been with her company as well as their nearby competitors. They can't keep up. She is hoping it slows for her own sanity

 

I know several people in real estate and they have been bonkers the last two weeks.

[Getslow]

My brother had his offer accepted on a house just yesterday.

 

He'd been in the market for a year and his income doesn't seem to be going anywhere so it was a pretty safe time.

 

And that dude got something like 3% on a 30-year... which is INSANE.

[bugatti]

My brother had his offer accepted on a house just yesterday.

 

He'd been in the market for a year and his income doesn't seem to be going anywhere so it was a pretty safe time.

 

And that dude got something like 3% on a 30-year... which is INSANE.

 

2.5% or a little lower some were able to secure.

 

Of course you have a fair amount of bozos that believe the Federal Interest Rate and mortgage rates are one in the same. Ask how many mortgage lenders have had to answer the question, "Am I able to get a 0% mortgage?" Yeah, sure. 0% for 30 years. That makes sense.

[John Anthony]

A lot depends on the market. My wife is in the mortgage industry and this is far and away the most busy she has been with her industry as well as their nearby competitors. They can't keep up. She is hoping it slows for her own sanity

 

The refinancing part surprised me as well. The thing is rates have already been “low” for over a decade.

[bugatti]

The refinancing part surprised me as well. The thing is rates have already been “low” for over a decade.

 

Exactly. We locked at 3.25% back in October and were ecstatic.

[Getslow]

2.5% or a little lower some were able to secure.

 

Of course you have a fair amount of bozos that believe the Federal Interest Rate and mortgage rates are one in the same. Ask how many mortgage lenders have had to answer the question, "Am I able to get a 0% mortgage?" Yeah, sure. 0% for 30 years. That makes sense.

 

The sub-3% have been hard to find on anything over the 15-year notes. Still. Insane rate around here.

[bugatti]

The sub-3% have been hard to find on anything over the 15-year notes. Still. Insane rate around here.

 

Correct. Should have clarified that.

[Bluegrasscard]

We closed at 3.49 on March 11 on a Refi with cash out. 23 year term. Mashed the HELOC in with it and it allow us to lower our monthly commit - if we need it. Need to get on the horse now that kids are gone and get it paid off. The rate rose during our two week lock and was over 4 when we closed. As noted - business is such that they were raising rates while the 10-year fell just to fend off the traffic. Adam Smith at work.