townhouse to SFR

[oneasterisk]

For those buying, curious what kind of rates are you seeing?

[Sjmama19]

Originally Posted by oneasterisk

For those buying, curious what kind of rates are you seeing?

Last time I talked to my lender it was hovering between 3.5-4, but it changes so much these days. Depending on what happens with my monthly payment whenever I get an offer accepted, I may end up buying a few points to knock the overall rate down a bit. Will just have to see. And I have a really high credit score (somewhere around 800), so those with lower scores are going to see higher rates.

[DAXhound]

Venture capital has cash and will buy anything they can. Also, seen the emergence of crowd funding type investors lately. Sam Zell was on CNBC yesterday..he told Sarah Eisen higher mortgage rates in residential market will simply separate the men from the boys..lol. The new builds have just lagged for too long. He also mentioned generational real estate investing, which means people will buy at high prices without expectations of short term gains. It is more for the sake of their grandkids, etc..

https://news.yahoo.com/jeff-bezos-ba...182009732.html

[NC211]

I think the residential folks are pretty safe. Might be three steps forward, one step back here for a while, but for us I think that just means a few more weeks on the market to sell it.

Where I think the rising interest rates are going to have the greatest impact is for the commercial real estate guys. Personally I think CRE is about to take a hit on the chin, as rising interest rates also push up cap rates which will drive down values, notably in certain pockets. Money has been too cheap for too long for that segment and I think a rebranding is on the horizon for many in that segment.

But the home buyer in N VA, I think is safe. May not see 20% annual jumps again for another 15 years, but I doubt we’ll see 20% declines from this point either. Just too many jobs and more coming..