1moretimeagain
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He mentions prior months being upside surprises, but today the 2 prior months got downwardly revised by 76k.
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- Thread starter nycfan
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He mentions prior months being upside surprises, but today the 2 prior months got downwardly revised by 76k.
superrific
Master of the ZZLverse
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He's laughing inside at his own inanity.
GoHeelsweeeehoooo
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I'm guessing the real numbers are much much worse
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My quick perusal of various lenders suggests that the range for 30 yr fixed mortgages is 5.95% to 6.2% with a slightly higher apr.
I have a home that has been on the market since June. I hope the rate decrease will lead to a home sale and allow me to escape the purgatory of being a not proud owner of two primary residences.
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Honestly over the last 40 years that is a really good rate , is it not ?
We just got spoiled by the silly rates we had for a few years
Yep. The bigger problem to buying a house is just the price of the house. The prices are so high.
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Slowest Labor Market in Years Leaves Job Seekers Stuck
Job hunts get more desperate, as workers cobble together part-time gigs, raid 401(k)s and get waitlisted by DoorDash
—> https://www.wsj.com/economy/jobs/jo...d?st=5zGRj4&reflink=desktopwebshare_permalink“…Last month, more than 5.3 million Americans were working part time because they couldn’t get more work. Though the number was down from November, the year ended with about 3.1% of the U.S. labor force stuck in these part-time jobs, up from 2.6% 12 months earlier.
For those out of work, the median unemployment time reached 11.4 weeks in December, the highest level since December 2021. And job seekers who have been out of work for 27 weeks or more now make up 26% of all unemployed workers, up from 22% a year ago.
“It’s not a robust job market by any means,” said Mike Taiano, vice president of the financial institutions group at Moody’s Ratings. “It looks like a stagnated labor market.”…”
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absolutely
My first home back in 1982 carried a 12.5% variable rate which I refinanced two years later with an 11% fixed rate.
My mortgage payment took 50% of my net income.
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I don't know much about Housing variables that have resulted in soaring costs-at least in desirable areas
But "I think" supply and demand for the Land is as big a factor as any
In nice little traditional middle class neighborhoods in Cary houses are going for $600,000 as teardown/rebuild projects
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The prices are so high depending upon where you to want to live, how big a house you desire, and your salary.
Case in point:
A few months ago I had a discussion with someone on this board who lived in Raleigh and complained he could not find a home in his 350k price range. I did a search and found over a dozen nice 2,000 sq ft homes for sale in communities like Creedmore and Oxford which would mean a 30-40 minute commute to Raleigh for work.
His response was he wanted to stay in Raleigh because his friends were there and he had a good social life living in Raleigh.
The amenities add a lot as well. On demand hot water, geothermal /solar and such, home theater systems, built in speakers, data wiring ( of which there could be over a mile) and other smart house devices. Add fancy tile ,upgraded appliances across the board and high end cabinetry and countertops and you can run up some serious dollars on things you couldn't have fifteen years ago. Nobody is likely to have all that but everybody is wanting a substantial fraction of that. That's not free and there's nothing anyone but the homebuyer can do about it.
Yeah, I have 15 years fixed at 1.75%.