Choose your color scheme:
The Vette Barn  
 
Go Back   The Vette Barn > Off Topic/Babes/Other > Off Topic

Off Topic Off Topic - General non-Corvette related discussion.

User Tag List

Reply
 
Share Thread Tools Search this Thread
Old 09-26-2022, 5:27pm   #21
LATB
A Real Barner
Points: 102,188, Level: 100
Activity: 99.2%
 
LATB's Avatar
 
Join Date: Jan 2011
Posts: 29,349
Thanks: 3,712
Thanked 12,567 Times in 5,873 Posts
Gameroom Barn Bucks: $8122190
Default

Quote:
Originally Posted by bsmith View Post
I've never been comfortable with debt, but when we bought new cars in 2020/2021, I actually financed part of them at 1.89% & 2.09% for 60 months, figuring it would be a long time until we see money that cheap again.
Plan was to sit on cash and be ready when shit hit the fan.

Sitting on cash sucks, seeing it devalued every day.

I go back and forth over what I should be doing right now.
I agree and hate debt. And at my age a mortgage or car/truck payment is a frightening endeavor.

ButÖ
When John Deere offered me 0% for 5 years I could not pass it up. And when you finance with JD they offer insurance on everything you purchase. This includes the tractor and equipment trailer and over 10K in implements.

Even the insurance is financed at 0% for the 5 years.


All insured for $1,100. For the full 5 years. Holy Crap what a bargain.
LATB is offline   Reply With Quote
The Following User Says Thank You to LATB For This Useful Post:
Old 09-26-2022, 5:39pm   #22
DAB
Sparkles Flambeaux
Barn Stall Owner #4
Barn Raising I,II
NCM Supporter '13,'14,'15,'16,'17,'21
Bantayan Kids '13,'14,'15,'17
Points: 159,354, Level: 100
Activity: 30.4%
 
DAB's Avatar
 
Join Date: Jan 2011
Location: Santa Fe, NM
Posts: 60,911
Thanks: 11,510
Thanked 31,015 Times in 13,556 Posts
Gameroom Barn Bucks: $17500122
Default

Quote:
Originally Posted by LATB View Post
I agree and hate debt. And at my age a mortgage or car/truck payment is a frightening endeavor.

ButÖ
When John Deere offered me 0% for 5 years I could not pass it up. And when you finance with JD they offer insurance on everything you purchase. This includes the tractor and equipment trailer and over 10K in implements.

Even the insurance is financed at 0% for the 5 years.


All insured for $1,100. For the full 5 years. Holy Crap what a bargain.
i have a shovel.....wood handle...actually 2: curved (digging) and flat (transfer).....they aren't insured, but they are locked up at night.
DAB is offline   Reply With Quote
The Following 4 Users Say Thank You to DAB For This Useful Post:
Old 09-26-2022, 5:45pm   #23
16again
A Real Barner
Points: 11,248, Level: 73
Activity: 1.2%
 
16again's Avatar
 
Join Date: Dec 2010
Location: Boynton Beach Florida
Posts: 1,078
Thanks: 486
Thanked 167 Times in 95 Posts
Gameroom Barn Bucks: $3201
Default

Bought my current house in January 2022. 3.5% Got in just as the rates started increasing. If I were to buy now, I honestly couldn't afford it. FJB!!!!
16again is offline   Reply With Quote
The Following 2 Users Say Thank You to 16again For This Useful Post:
Old 09-26-2022, 6:22pm   #24
bsmith
Bantayan Kids '13
Points: 18,264, Level: 93
Activity: 10.8%
 
bsmith's Avatar
 
Join Date: Jan 2011
Posts: 4,268
Thanks: 502
Thanked 1,618 Times in 843 Posts
Gameroom Barn Bucks: $1002313
Default

Quote:
Originally Posted by 16again View Post
Bought my current house in January 2022. 3.5% Got in just as the rates started increasing. If I were to buy now, I honestly couldn't afford it. FJB!!!!
I've paid ahead on our mortgage from day 1.
Refinanced about 18 months ago @3%.
I still pay extra monthly, but less than in the past.

Part of me wishes I'd have done cash-out and finished the basement.
bsmith is offline   Reply With Quote
The Following User Says Thank You to bsmith For This Useful Post:
Old 09-26-2022, 6:50pm   #25
Ill Duce
Banned
Points: 3,216, Level: 37
Activity: 36.8%
 
Ill Duce's Avatar
 
Join Date: May 2022
Location: VettemanJack is a spamming moron
Posts: 1,010
Thanks: 187
Thanked 783 Times in 334 Posts
Gameroom Barn Bucks: $500
Default

Quote:
Originally Posted by Onebadcad View Post
It is going to get A LOT WORSE, before it starts getting better.

Today, Fannie / Freddie, 30-year fixed is 6.875%, FHA and VA about the same.


10-year Treasury is at 3.90%, up 18 basis points today.

I predict we will be over 8.000% by Thanksgiving, we will definitely see 10.000+% before rates start falling.

The increase in mortgage rates will CRUSH the housing market, it already has, and then the rest of the economy will crater.

This will get much, much worse:

1) the fed raising the discount rate every six weeks has done nothing in the past nine months except hurt the economy

2) it will do nothing quickly, long-term, 18+ months, will work, as it will cra
ter economy, but the cost to the average person will be very severe

3) unemployment numbers are UTTER BS, how many people are not being counted, what is participation rate, AND those working are not keeping up with inflation, they buy less, or they do not buy

4) GDP will continue to decrease, unemployment will skyrocket, retailers will get crushed--walmart and target will get payback for their wokeness, as their employee costs with benefits and transportation costs will put ALL STORES in the negative

5) unemployment will increase greatly as retailers shut down, most do not have the deep pockets as walmart, expect to see many store closings and bankruptcies, due to increasing costs and decreasing revenues

6) consumers, at least those not on the taxpayer teat, have already amended their spending, they only buy what they need AND eat out less--restaurants will have a much higher fail rate than retailers, fedex gave the warning shot, they are down 43% in nine months

7) not all is bad, you can get your student loans forgiven, illegals will get free housing & food & clothes & cell phones & team mexico futbol polos, and manchin's supporters will get a huge return on investment

8) and best of all, that $50+T National Debt we will have by 2025 is just a number, it will not affect your income tax, cap gains, real estate values, retirement, social security and medicare--at least depends joe said so
According to the subhuman vermin trash realturds this is all FAKE NEWS
Ill Duce is offline   Reply With Quote
Old 09-26-2022, 6:51pm   #26
LATB
A Real Barner
Points: 102,188, Level: 100
Activity: 99.2%
 
LATB's Avatar
 
Join Date: Jan 2011
Posts: 29,349
Thanks: 3,712
Thanked 12,567 Times in 5,873 Posts
Gameroom Barn Bucks: $8122190
Default

Quote:
Originally Posted by Ill Duce View Post
According to the subhuman vermin trash realturds this is all FAKE NEWS
Link us up sport.
LATB is offline   Reply With Quote
Old 09-26-2022, 6:54pm   #27
Ill Duce
Banned
Points: 3,216, Level: 37
Activity: 36.8%
 
Ill Duce's Avatar
 
Join Date: May 2022
Location: VettemanJack is a spamming moron
Posts: 1,010
Thanks: 187
Thanked 783 Times in 334 Posts
Gameroom Barn Bucks: $500
Default

Oh yeah and just as I predicted Douggie screwed his mom into a $200k underwater house
Ill Duce is offline   Reply With Quote
Old 09-26-2022, 6:57pm   #28
Ill Duce
Banned
Points: 3,216, Level: 37
Activity: 36.8%
 
Ill Duce's Avatar
 
Join Date: May 2022
Location: VettemanJack is a spamming moron
Posts: 1,010
Thanks: 187
Thanked 783 Times in 334 Posts
Gameroom Barn Bucks: $500
Default

Quote:
Originally Posted by 16again View Post
Bought my current house in January 2022. 3.5% Got in just as the rates started increasing. If I were to buy now, I honestly couldn't afford it. FJB!!!!
Congrats you bought at the top of the market, that house is going to drop in value with every mortgage rate increase
Ill Duce is offline   Reply With Quote
Old 09-26-2022, 7:05pm   #29
LATB
A Real Barner
Points: 102,188, Level: 100
Activity: 99.2%
 
LATB's Avatar
 
Join Date: Jan 2011
Posts: 29,349
Thanks: 3,712
Thanked 12,567 Times in 5,873 Posts
Gameroom Barn Bucks: $8122190
Default

Quote:
Originally Posted by Ill Duce View Post
Oh yeah and just as I predicted Douggie screwed his mom into a $200k underwater house
Many of us made the point that her best move was take the market cash out of the trash juice house and scale down ahead of the predicable slow down.

Although I believe she is all cash, so any loss will be market equity money and not under water.
LATB is offline   Reply With Quote
Old 09-26-2022, 9:36pm   #30
Yadkin
Barn Stall Owner #112
Points: 17,551, Level: 91
Activity: 99.7%
 
Yadkin's Avatar
 
Join Date: Apr 2022
Posts: 5,906
Thanks: 2,379
Thanked 1,770 Times in 969 Posts
Gameroom Barn Bucks: $500
Default

2.25% on a 15 year here. Less than a year ago. Now comes the housing crash. Then I can do an addition.
Yadkin is offline   Reply With Quote
Old 09-26-2022, 10:07pm   #31
MikeB
Barn Stall Owner #115
Points: 17,034, Level: 90
Activity: 48.1%
 
MikeB's Avatar
 
Join Date: Dec 2011
Location: Sussex, Wi Formerly Touringmike
Posts: 4,139
Thanks: 941
Thanked 3,066 Times in 1,402 Posts
Gameroom Barn Bucks: $610854
Default

Quote:
Originally Posted by dvarapala View Post
Just be glad it's not the 1980s with double-digit mortgage rates.
1982. I had a job offer that would relocate me back to where I was born.
I initially accepted, but turned down the offer 1 week later because
mortage rates were 16% (WTH, I was getting 14% money market rates back then).
Anyway, 1983, rates fell to ~8%, and I made the move that year.
A few years later, I had refinanced twice, down to ~5%, and that's
how I ended up on the current house until 2009.

But, really, what's a mortgage?
MikeB is offline   Reply With Quote
Old 09-27-2022, 3:47am   #32
16again
A Real Barner
Points: 11,248, Level: 73
Activity: 1.2%
 
16again's Avatar
 
Join Date: Dec 2010
Location: Boynton Beach Florida
Posts: 1,078
Thanks: 486
Thanked 167 Times in 95 Posts
Gameroom Barn Bucks: $3201
Default

Quote:
Originally Posted by Ill Duce View Post
Congrats you bought at the top of the market, that house is going to drop in value with every mortgage rate increase
So far it's only increased 50K in value. That's without any of the improvements I made. Luckily, It was under valued. Lady just wanted out.
16again is offline   Reply With Quote
Old 09-27-2022, 6:52am   #33
LATB
A Real Barner
Points: 102,188, Level: 100
Activity: 99.2%
 
LATB's Avatar
 
Join Date: Jan 2011
Posts: 29,349
Thanks: 3,712
Thanked 12,567 Times in 5,873 Posts
Gameroom Barn Bucks: $8122190
Default

Quote:
Originally Posted by 16again View Post
So far it's only increased 50K in value. That's without any of the improvements I made. Luckily, It was under valued. Lady just wanted out.
Good job

I was going to ask Duce how he could possibly know the details of your deal? And just because interest rates go up it doesnít necessarily mean your home value will go down. That Duce is always such a ray of sunshine.
LATB is offline   Reply With Quote
The Following 2 Users Say Thank You to LATB For This Useful Post:
Old 09-27-2022, 7:03am   #34
Old Ben
A Real Barner
Points: 23,433, Level: 100
Activity: 43.0%
 
Old Ben's Avatar
 
Join Date: Mar 2019
Location: Montgomery, AL
Posts: 10,879
Thanks: 4,437
Thanked 13,223 Times in 5,030 Posts
Gameroom Barn Bucks: $1014987
Default

Quote:
Originally Posted by dvarapala View Post
Just be glad it's not the 1980s with double-digit mortgage rates.
Yet....
Old Ben is offline   Reply With Quote
Old 09-27-2022, 7:35am   #35
Dan47
Barn Stall Owner #106
Points: 17,638, Level: 91
Activity: 61.7%
 
Dan47's Avatar
 
Join Date: Jan 2021
Posts: 11,220
Thanks: 9,169
Thanked 3,222 Times in 1,285 Posts
Gameroom Barn Bucks: $500
Default

Quote:
Originally Posted by Ill Duce View Post
Congrats you bought at the top of the market, that house is going to drop in value with every mortgage rate increase
Drop in price not necessarily in value.
Dan47 is offline   Reply With Quote
Old 09-27-2022, 9:45am   #36
Onebadcad
Barn Stall Owner #116
Points: 9,224, Level: 66
Activity: 99.5%
 
Onebadcad's Avatar
 
Join Date: May 2022
Location: NOBROCOSOFLO
Posts: 3,776
Thanks: 699
Thanked 2,691 Times in 1,389 Posts
Gameroom Barn Bucks: $500
Default

MORTGAGE RATES, SEP 27TH:

The 10-year was still rising yesterday, finished up 22 BPS at 3.88%.
Today, rising again, at 3.95%, up 7 BPS.
Many predicted the increase, very few predicted how quickly and how high rates are today.

Today, 30-year fixed with Fannie/Freddie at 7.375%, FHA and VA about the same.
Onebadcad is offline   Reply With Quote
Old 09-27-2022, 11:31am   #37
sublime1996525
A Real Barner
Points: 11,562, Level: 74
Activity: 61.4%
 
sublime1996525's Avatar
 
Join Date: Mar 2019
Posts: 15,696
Thanks: 12,028
Thanked 5,684 Times in 2,436 Posts
Gameroom Barn Bucks: $1008643
Default

I'm so glad I was able to refinance in 2020 at 2.375% for a 30 yr. I also pay extra on principal. The house needs to be paid off before I'm 60.
sublime1996525 is offline   Reply With Quote
Old 09-27-2022, 12:16pm   #38
Taurus
A Real Barner
Points: 20,513, Level: 99
Activity: 55.1%
 
Taurus's Avatar
 
Join Date: Jan 2011
Posts: 4,908
Thanks: 1,180
Thanked 2,956 Times in 1,245 Posts
Gameroom Barn Bucks: $3895593
Default

I refinanced my mortgage at 2.65% the month before I retired in July 2021. I had a chance to pull money from an ESOP to pay off the mortgage or keep it invested. The ESOP has paid off very well, up 22% in the past 2 years and doing well again this year so Iíll keep it there until we have to cash out and will pay off the mortgage then. Other than that I donít do debt and donít plan on starting. I wonít be a slave to interest.
Taurus is online now   Reply With Quote
Old 09-27-2022, 12:29pm   #39
Onebadcad
Barn Stall Owner #116
Points: 9,224, Level: 66
Activity: 99.5%
 
Onebadcad's Avatar
 
Join Date: May 2022
Location: NOBROCOSOFLO
Posts: 3,776
Thanks: 699
Thanked 2,691 Times in 1,389 Posts
Gameroom Barn Bucks: $500
Default

The 10-year Treasury Yields sits at 3.98%, the last time it was 4.00%, or higher, was 2010.

While not a 1:1 correlation with mortgage rate, it is a good barometer, and a big influencer.

Many will agree the treasury yields increase due to a lesser confidence in the US GOV vs. alternative investments, which cannot offset the higher returns offers to treasury buyers.

Many current investors that exit the equities will not purchase treasuries, as not their strategy, the will sit on cash until they feel there are new opportunities in the equity markets.

Failure to sell debt will result in offering higher yields, which will affect all consumer debt rates.
Onebadcad is offline   Reply With Quote
Old 09-27-2022, 1:46pm   #40
Egnalf
A Real Barner
Points: 10,898, Level: 72
Activity: 22.8%
 
Egnalf's Avatar
 
Join Date: Dec 2019
Posts: 1,940
Thanks: 16
Thanked 2,564 Times in 1,091 Posts
Gameroom Barn Bucks: $18284
Default

Quote:
Originally Posted by Ill Duce View Post
Congrats you bought at the top of the market, that house is going to drop in value with every mortgage rate increase
I am curious what you think of this: I bought a new home last august, right at top of the market. Only took a smallish mortgage though. I also refi'd home two to a 20 year note on a jumbo. both at 2.75%. Now, I am sitting on debt totaling low seven figures at 2.75%.
Egnalf is offline   Reply With Quote
Reply

The Vette Barn > Off Topic/Babes/Other > Off Topic


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 1:02am.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2023 DragonByte Technologies Ltd.
Copyright © 2009 - 2022 The Vette Barn


Support the Barn:
 
Download the Mobile App;
 
Follow us on Facebook:

Become a Stall Owner

 

Apple iOS App        Google Android App

 

Visit our Facebook page