Mortgage Rates

[Yadkin]

Originally Posted by Unsuspicious

I'm happy to be under 6, I guess. Fighting the urge to pay it off too quickly because money does grow faster in the market.

It took me about ten years paying a financial advisor before I finally understood that a mortgage was not a bad debt to have. Especially now, with the collapse of the dollar imminent.

[Bruze]

Originally Posted by Unsuspicious

I'm happy to be under 6, I guess. Fighting the urge to pay it off too quickly because money does grow faster in the market.

Pre-paying a mortgage is essentially risk-free.

Compared to the stock market?

[Unsuspicious]

Originally Posted by Bruze

Pre-paying a mortgage is essentially risk-free.

Compared to the stock market?

Sure, a 30 year outlook on the stock market isn't as scary as a shorter time window like election year activity.

[Raazor]

Originally Posted by ratflinger

Mortgage - WTF is that?

[86RAG]

Originally Posted by abubakarkabiru

Absolutely, it's essential to keep an eye on the economic landscape, especially with significant fluctuations in mortgage rates. The impact on the housing market and consumer spending can be profound.

Nigerian prince

[Bruze]

Originally Posted by Unsuspicious

Sure, a 30 year outlook on the stock market isn't as scary as a shorter time window like election year activity.

Pre-paying a mortgage has nothing to do with elections, politics, wars, what-have-you. It's a guaranteed return.

[Don Rickles]

The point is, the free ride is over! We’ve been living large for the last several years, but if you didn’t see this on the horizon you’re blind. Rates had no where to go but up….

Buying property, the money is made on the “BUY”. Period.

The intelligent man, reduced their debt in the last say two years. Now sitting pretty.

People will still take out mortgages no matter the rates…..

And I thought you all were ballers that paid cash for everything…….

[Bruze]

Originally Posted by Don Rickles

The point is, the free ride is over! We’ve been living large for the last several years, but if you didn’t see this on the horizon you’re blind. Rates had no where to go but up….

Buying property, the money is made on the “BUY”. Period.

The intelligent man, reduced their debt in the last say two years. Now sitting pretty.

People will still take out mortgages no matter the rates…..

And I thought you all were ballers that paid cash for everything…….

^ Smart man!

I haven't had a mortgage in over 20 years. Late '90s I think.

[Dan47]

Originally Posted by Yadkin

It took me about ten years paying a financial advisor before I finally understood that a mortgage was not a bad debt to have. Especially now, with the collapse of the dollar imminent.

“The reports of my death are greatly exaggerated.”

Fed is still QT and hasn’t pivoted. Dollar looking strong, relative other currencies.

https://www.marketwatch.com/investing/index/dxy

[6spdC6]

Originally Posted by Bruze

^ Smart man!

I haven't had a mortgage in over 20 years. Late '90s I think.

Good work.

Same for me. Moved into my new built home in 2004 with no encumbrances. All worked out good I sold my old home(that had no mortgage) and built the lake house.

[Dan47]

No mortgage here either, 20 years~. Sleeping soundly and investing the cash flow on vacations.

[Yadkin]

I could have easily paid off my mortgage, but instead I refinanced when the rate bottomed out. That money that I did not spend is making three times that in the market.

[Dan47]

Originally Posted by Yadkin

I could have easily paid off my mortgage, but instead I refinanced when the rate bottomed out. That money that I did not spend is making three times that in the market.

Market is floating on a sea of debt and debtors. Maybe it goes on forever or maybe not? Lot’s of counterparty risk, more than I care for, not worth risking my home on. I still dca, though and Gold.

[Unsuspicious]

For all the mortgage free people, have you ever taken out a heloc? Still counts

[zsr22]

Originally Posted by abubakarkabiru

Absolutely, it's essential to keep an eye on the economic landscape, especially with significant fluctuations in mortgage rates. The impact on the housing market and consumer spending can be profound.

Welcome to the forum. Please stick around.

[zsr22]

I built out of pocket with zero regrets. Yeah, that money could be making me more money but I really don't care. I like not owing anything to anyone.

[Bruze]

Originally Posted by Unsuspicious

For all the mortgage free people, have you ever taken out a heloc? Still counts

Yes. That's what I paid off in the late '90s.

[Onebadcad]

Everyone should have a mortgage, or two, says this mortgage dood.

[Mick]

Originally Posted by Yadkin

Mine was 1988 at 11 7/8%. Thank you, Jimmy Carter.

Jimmy Carter was President from January of 1977 to January of 1981. How long after he left office was he responsible for your mortgage rate? My first was 8.75% in 1996, still Jimmy's problem?

[Mick]

Originally Posted by Unsuspicious

For all the mortgage free people, have you ever taken out a heloc? Still counts

Had a mortgage on my primary home from 1996 to 2005, paid off with additional payments to principle. When I bought my second investment property in 2017 I used a Heloc on my primary residence to get a better rate.

All loans were paid in full before I retired in 2021.