Keith Gumbinger
Keith Gumbinger
business slips stuff whenever
Whenever business slips a little, lenders trot this stuff out.
beginning benefit cold interest people product rate selected welcome
Welcome to the cold reality. A lot of people selected short-term interest rate product and are now beginning to see how these things benefit the lender.
answer ask bank bankers believe ensure fixed helps loan obvious pitching product question rates rise variable
The question you need to ask yourself is, why would a bank be pitching you this product at this time? The obvious answer is that bankers believe rates will rise in the future. Getting you out of a fixed loan and into a variable one helps ensure profitability on your account.
credit good homes lend mac percent qualify
Fannie Mae and Freddie Mac will even lend 103 percent of the homes value. You need to have very good credit to qualify for this kind of loan.
credit good homes lend mac percent qualify
Fannie Mae and Freddie Mac will even lend 103 percent of the homes value, ... You need to have very good credit to qualify for this kind of loan.
borrowing costs influence mean stop
Does that mean (consumers will) stop borrowing because it costs them another $5 a month? Probably not. It may influence decisions. I don't think it halts decisions.
home late night purchases saw
No-money-down home purchases used to be the kind of thing you only saw on late night TV.
bridge loans methods variety
There are a variety of methods by which bridge loans are made.
cash expect exposure free period rates remain rising
This would free up cash now, while still minimizing their exposure to rising rates during the period they expect to remain in the house.
cash draw equity home improve lets money popular resist temptation
This is very popular right now because it lets you draw some money out of your home and improve cash flow. If you do this, resist the temptation to draw too much equity out of your home.
increased pain point quarter soon start
A quarter point here, a quarter point there, and soon you start to feel the pain of significantly increased monthly payments,
aware five higher home interest likely money rates reality road save seven somewhat three within
Someone who will be out of their home within five years to seven years can save some money with an ARM. But you have to be aware of the reality that interest rates are likely to be somewhat to significantly higher in three years, five years, 10 years down the road from today.
activity catch chance home prices trying
They're trying to make home prices more expensive, so some of this speculative activity will decrease, and incomes will have a chance to catch up.
people realistic time
People are a little more realistic about their time frame, especially young folks,