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Hovnanian Enterprises Inc. Message Board

  • jerry_mandering_gop jerry_mandering_gop Aug 21, 2013 8:49 AM Flag

    So 4% Mortgage Rate Means End of the World.....Wow?

    Kind of hard to believe, I have a friend who paid 10% on his first mortgage. Yeah, that was a long time ago, but geez, everyone knows that no one will pay 4%!!!!! 4% is, in fact, the end of the world. It's all over for all of us.

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    • Yes, if people keep listening to the naysayers on CNBC (like Santeli) they might think it is the end of the world and not buy a house (BIG MISTAKE).

      I remember paying 9.5% for my house in the mid 1990's. I'm very glad that I did not let a 9.5% interest rate stop me from buying my house it is now mine and paid for.

      It is hard to imagine how people can think that a 4% or 5% or 6% is high, That's totally RIDICULOUS!
      It doesn't get much better than this, LOW HOME PRICES and RIDICULOUSLY LOW INTEREST RATES!!!!

      I'd buy a house in the USA today at these very low prices and low interest rates before it was to late and I have to pay more later. JMO

    • I recall at that time when rates were 10% to 12% the housing market was hotter than a fire cracker. The Civil Eng. firm I was with in the 80's was busier than ever..... Unemployment was high as well.

    • I paid over 12% in the early 80's. I am paying 3.25% now. Mortgage rates will not affect the housing market like most of the low information people believe. What makes people buy homes is the difference between their current rent and their proposed house payment. Owners of homes and apartment buildings for rent will have to pay the higher interest rates, too; raising the price they charge for rent. Imagining the housing market will shut down at 6% shows a lack of knowledge of the market.

      Sentiment: Strong Buy

    • Its 4.6% now, and experts say when we get to 6% mtg rate that the music STOPS

 
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