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Adding context: the US Fed raised the interest rate benchmark this week to 4%, with the expectation that it will be raised higher. Credit's getting a lot more e
by nunez 4y ago
Adding context: the US Fed raised the interest rate benchmark this week to 4%, with the expectation that it will be raised higher. Credit's getting a lot more expensive.
- Spivak 4y agoYep, don't even look at mortgages until housing prices drop in response to the rate increases. Because the amount of total money paid in interest over a 30 loan increased more than 2x over the last year.
- nunez 4y agohonestly i think this is the "real estate bubble" folks were looking for (it's not a bubble but housing might finally drop in price now that mortgages are so expensive)