Trump Hated Low Interest Rated under Obama
Posted: Fri Oct 12, 2018 12:34 pm
I think raising the rates a bit to pump the brakes on home buying is probably a good thing. Low rates inflate the cost of home pretty rapidly. My wife and I just closed on a 2nd place, and secured a 4.375 while talking the seller down 14k. By the time we signed the paperwork I think rates were around 4.6 to 4.9? I have a feeling if rates were still at 2.75 to 3.25 that house would've been gone in a NY second at the original asking price.
When housing prices along with rent is skyrocketing, the value of our dollar begins to suffer from commensurate inflation. You'd think a successful real estate magnate might understand the dangers of a runaway housing market fueled by too-low rates. We need to have a happy medium so we avoid bubbles.
- Doc