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Opinion: Why we need a mortgage rate reset

Housing Wire

What if that one loan turned into three to six loans? They went to their bank and get a 30-year fixed rate loan. By 2004, they heard they could refinance, possibly get some cash out. Some went risky with a popular ARM loan and got a 6.5% For starters, there will be fewer of us — loan officers, banks, brokers.

Mortgage 432
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Will Homeownership Bankrupt Americans?

DataMaster

in April 2004. Due to covid-19 and the subsequent rise in building supply costs and drop in inventory, the effects on homeownership are yet to be seen. Ask a bank or loan officer, though, and their suggestions are higher, ranging from 28% to 35%. By April 2021, the rate fell to 64.6%. But the range goes even higher!

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article thumbnail

Will Homeownership Bankrupt Americans?

DataMaster

in April 2004. Due to covid-19 and the subsequent rise in building supply costs and drop in inventory, the effects on homeownership are yet to be seen. Ask a bank or loan officer, though, and their suggestions are higher, ranging from 28% to 35%. By April 2021, the rate fell to 64.6%. But the range goes even higher!

article thumbnail

Will Homeownership Bankrupt Americans?

DataMaster

in April 2004. Due to covid-19 and the subsequent rise in building supply costs and drop in inventory, the effects on homeownership are yet to be seen. Ask a bank or loan officer, though, and their suggestions are higher, ranging from 28% to 35%. By April 2021, the rate fell to 64.6%. But the range goes even higher!