Keith Gumbinger
Keith Gumbinger
cut low mortgage people rates
With rates as low as they are people can cut years off the mortgage for the same monthly payment.
borrowers budget buy encouraged invest loans money paid people product save stretch value
These loans can be of value for people who want to save or invest the money they would have paid in principal, ... Unfortunately, the way the product has been pitched, borrowers have been encouraged to stretch their budget to buy more house.
access allowing people reasonably
Lenders are allowing people reasonably unfettered access to their equity.
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.
people realistic time
People are a little more realistic about their time frame, especially young folks,
brand credit digging equity further home line people shovel themselves
For some people a home equity line of credit is a brand new shovel for digging themselves further into debt.
below borrow half percentage point possible prime quarter
In many markets, it's possible to borrow at prime or even a quarter to a half a percentage point below prime.
additional continue debts exceed guarantees home levels prices quickly rates remain value
Not only do you not own any of your home, but you may be piling up additional debts that could quickly exceed the value of the home. There are no guarantees that rates will remain at comfortable levels and no guarantee that home prices will continue to go up.
home late night purchases saw
No-money-down home purchases used to be the kind of thing you only saw on late night TV.
borrowers choices expanding include loan means menu niche opportunity
Expanding your menu (as a lender) to include as many loan choices means you get a better opportunity to scour borrowers out of niche markets.
interest lock optimal
The optimal thing to do is to lock in your interest rate.
allowing declining housing interest rate rising risks today together top
What is new today is that lenders are allowing for the layering of risks on top of one another. What we don't know is what if we put all these risks together and put them in a rising interest rate environment, a declining housing market, or a weakening economy.
Could there be some 50s? There could be some 50s.
borrow change consumers couple fed might raises rates
There's no way for consumers to borrow more cheaply. But that might change if the Fed raises rates a couple more times.