dChan
Anonymous ID: 899456 May 1, 2024, 5:17 p.m. No.20806463   🗄️.is đź”—kun   >>6480 >>7073 >>7085

Buyers are taking on riskier adjustable rate mortgages as affordability worsens

 

(would not rec’d these at all but some people need to buy/sell their homes for several reasons but I wouldn’t choose to use these products because if the bond market gets fire bombed, and it’s basically one sovereign US Treasury holder deciding to panic away from doing it that implodes your mortgage rate… it’s not likely as holders of any debt in size needs a “dance partner” to unload a sizable position however it’s possible as our reputation deteriorates that one could say “fuck it…..sell it today”…..and spike rates. In the past I would never say that would be possible but would you take that bet in todays geo-political environment?)

 

Homebuyers in the U.S. are turning to riskier adjustable rate mortgages (ARMs) as high interest rates make it less affordable for purchasers locking in new fixed rate mortgages, according to a new report. The Mortgage Bankers Association's Market Composite Index, which measures loan application volume, found that the share of activity involving ARMs increased to 7.8% of total mortgage applications. "One notable trend is that the ARM share has reached its highest level for the year at 7.8 percent," Mike Fratantoni, senior vice president and chief economist for the Mortgage Bankers Association (MBA), said in a release. "Prospective homebuyers are looking for ways to improve affordability, and switching to an ARM is one means of doing that, with ARM rates in the mid-6 percent range for loans with an initial fixed period of five years." Average interest rates for ARMs that are fixed for the first five years fell to 6.60% from 6.64%, with points decreasing to 0.75 from 0.87 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate declined from last week, the MBA noted. (The banking system won’t advise you of the Sovereign Debt sale scenario but I just did and they won’t because they need to “write that paper”).

 

ARMs are a type of mortgage with an interest rate that changes, or "adjusts," throughout the duration of the loan. In certain circumstances this can save borrowers money relative to a fixed rate mortgage, but they can also cause a borrower's payments to quickly increase if rates increase, which means borrowers should carefully consider those factors before taking out a loan.

The Consumer Financial Protection Bureau (CFPB) explains that, "With an ARM, the interest rate and monthly payment may start out low. However, both the rate and the payment can increase very quickly. Consider an ARM only if you can afford increases in your monthly payment — even to the maximum amount."

https://www.foxbusiness.com/economy/buyers-taking-riskier-adjustable-rate-mortgages-affordability-worsens

Anonymous ID: 899456 May 1, 2024, 6:57 p.m. No.20806860   🗄️.is đź”—kun

>>20806810

Well yer right about no one wanting them.

Mebby they do it right when they get rid of Potato as they had no issue tanking it in 08 during election then. A little different now but and rarely crash with Dem incumbent with a few exceptions

Even though it could habben I just can’t see Yellen managing it-“she” (have muh doubts its a she) is completely unbelievable.

Anonymous ID: 899456 May 1, 2024, 7 p.m. No.20806870   🗄️.is đź”—kun   >>6941 >>7066 >>7085

SAM688 C32ABlinkenstopped at Shannon, Ireland for fuel after his Tel Aviv departure

 

AC still shows at Shannon but he left and data shows at 35k Ft and transmitting

 

Blinken tells Hamas time for 'haggling' over truce deal has ended

https://www.msn.com/en-ca/news/world/blinken-tells-hamas-time-for-haggling-over-truce-deal-has-ended/ar-AA1o09Dq