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Old 05-04-2023, 09:49 AM
 
86 posts, read 46,507 times
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Anyone rate shopping right now... What rates are you getting quoted on a 30-y?
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Old 05-04-2023, 09:57 AM
 
23,568 posts, read 18,707,417 times
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Quote:
Originally Posted by ca1337 View Post
Anyone rate shopping right now... What rates are you getting quoted on a 30-y?

Today DCU is showing 5.875 for a 30-year-fixed, that's actually slightly down from a few days ago.
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Old 05-04-2023, 10:13 AM
 
852 posts, read 554,706 times
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Quote:
Originally Posted by matrix5k View Post
What does $1600/mo get you today?
Very few graduate students live alone. Usually 2~3 people share an apartment, and some universities provide relatively affordable apartments.
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Old 05-04-2023, 10:19 AM
 
852 posts, read 554,706 times
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Quote:
Originally Posted by simplexsimon View Post
Did you have children? Roommates? Years ago as in before the recent high inflation?
Most graduate students are single and have no children. They typically have 1~2 roommates.

Those who do have children usually had some work experience before and saved some money, or requested a loan.
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Old 05-04-2023, 10:50 AM
 
Location: Needham, MA
8,545 posts, read 14,025,464 times
Reputation: 7944
Quote:
Originally Posted by Lampert View Post
, I don't read the blog. I just googled housing data and that was the first result that I found with recent data. I assume the data mentioned are real. The conclusion I thought was BS too.
Maybe he used ChatGPT to write the post.

Quote:
Originally Posted by msRB311 View Post
I think some people might like it if the housing market cooled around here?
You can count me among that crowd. I'd LOVE for the market to cool off. I'd never wish for anyone to lose equity in their home but eventually we'll flip over to a buyer's market. It always happens. It's just a matter of time. Everything I'm reading though and everyone I'm talking to doesn't seem to think when the market flips that this will be like what we saw in The Great Recession.

IMO, buy now and refinance when rates are lower. If prices drop for a few years, it doesn't seem likely they'll drop tremendously. Too many people try to wait for the bottom to buy and the only way you know where it was is if you're looking at in the rearview mirror.
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Old 05-04-2023, 01:25 PM
 
15,799 posts, read 20,504,199 times
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Quote:
Originally Posted by MikePRU View Post
IMO, buy now and refinance when rates are lower.
If they go lower

Historically speaking, the period of low interest rates may be more of an outlier than the norm.

https://themortgagereports.com/61853...ge-rates-chart
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Old 05-04-2023, 02:04 PM
 
66 posts, read 47,128 times
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Quote:
Originally Posted by BostonMike7 View Post
If they go lower

Historically speaking, the period of low interest rates may be more of an outlier than the norm.

https://themortgagereports.com/61853...ge-rates-chart
Correct. Nobody should assume they'll see 3-4% again anytime soon. Not saying it isn't possible, but "buy and refi" may not be as easy as agents suggest.
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Old 05-04-2023, 02:17 PM
 
3,626 posts, read 1,844,995 times
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Quote:
Originally Posted by fabfan84 View Post
Correct. Nobody should assume they'll see 3-4% again anytime soon. Not saying it isn't possible, but "buy and refi" may not be as easy as agents suggest.
When I was seriously looking a few months back agents were telling me marry the house and date the rate. Easier said than done in these crazy times. It gives people false hope that they are going to see 3-4% in the near future but I don't think that's going to be the case either. I wonder how many folks are buying at these higher rates, overextending themselves a bit for a higher priced home under the assumption they'll be able to refi in the coming months to ease the burden a bit? Maybe a new wave of foreclosures coming in the next year or two?
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Old 05-04-2023, 02:21 PM
 
16,412 posts, read 8,198,277 times
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I guess what has still surprised me (and this has been discussed ad nauseam) is all the people still keeping up with the prices. There are some very high salaries out there but it still surprises me the amount people will pay for a home the past few years.
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Old 05-04-2023, 02:49 PM
 
3,626 posts, read 1,844,995 times
Reputation: 1512
Quote:
Originally Posted by msRB311 View Post
I guess what has still surprised me (and this has been discussed ad nauseam) is all the people still keeping up with the prices. There are some very high salaries out there but it still surprises me the amount people will pay for a home the past few years.
Yes, it is pretty amazing. I'm still in awe how so many people are doing it at these high prices and rates. I know MA is flush w/cash buyers but even those who aren't....how much are these folks really making and what types of jobs are paying enough to support a ~$1M house plus all of life's other expenses. I'd consider myself as someone making an above average salary for this state and I still stick with the 28% or less of my income going toward housing. I even like to stay below that when I can.
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