Why Won't Mortgage Rates Come Down? | Jill on Money

[@DarkLordJmac]

Im 30, turning 31, saved myself 300k. Houses in my area are 800k to 1.1 million that all need work. People tell me im doing well. If im doing well, everyone else is screwed because if I took every penny I had and put it into a house, it would eat 80% of my paycheck.

[@RothBalloon]

That’s an interesting take. Maybe the question to ask is why are you comparing your journey to people who are able to afford million dollar homes but not to people in your own income group. There’s that saying about how comparison is the thief of joy… Best of luck 🥂

[@DarkLordJmac]

@RothBalloon because 5 years ago these houses were 300k to 500k

[@DarkLordJmac]

@RothBalloon my parents purchased the house i grew up in for 130k. He sold it for 700k.

[@RothBalloon]

@@DarkLordJmac While that may seem like a great rate of return, when you actually do the calculations, it may not be as large as it appears when you account for the expenses, interest costs, etc. But that really wasn’t my point. We are where we are and we still have to compare apples to apples. From my perspective you are crushing it to be able to save that amount of money at your age and you should be very proud. You are probably doing way better than 90% of your peers so keep doing what you’re doing and you’ll be just fine. Nobody forced the host to buy the house he bought for the rate he got. He’s a big boy and knows how investing works. He’ll be ok. Don’t be guilted into feeling like you’re missing out. There will always be another house.

[@jluther1755]

Yes But Capitalism is better than all the alternatives 😁

[@msv-777]

love these mini topics - thanks Jill!

[@earl-d4n]

folks WILL MISS the Biden economy and how good they had it. liar trump WILL screw things up DELUXE!

[@cookieforawookie]

These little bits might not be for the broader TCAF crowd, but I appreciate them nontheless. Thank you, Jill.

[@gailparadeza7119]

How rates on HELs or HELOCs?

[@Stashley78]

2:11 Where can I find the data source or citation that 60% of US mortgages are under 4% interest rate?

[@kfrenchTPL]

I missed the part where they answered the question. In any case, There’s no incentive for banks to lower their lending rates. Is it true that banks set their own lending rates? Finally, keep it simple: Chipotle former CEO said they will keep increasing prices because people are still paying I.e., pricing power. Banks are no different.

[@TonyBitcoin]

Price to income was much more doable decades ago!!!!!!!

[@sharkbite8947]

Great explanation!

[@kid_a6859]

I love these shorter format , one topic videos

[@NormanOkada]

Great commentary.

[@bncorb]

Nice comments, but the Fed controls both the front-end (setting rates) and back-end of the curve through QE and QT. The Fed purchased about $2 trillion in notes and bonds between 2008 and 2014. According to research by the Fed, the cumulative effect was a reduction in rates by about 100 basis points across the curve. If the Fed wants to control the MBS market, they can simply buy a large amount of 7 to10-year USTs, as they did in the past.

[@dbartholomew2]

Good video

[@voicification]

Wait would love to know Mark T’s backstory on how we went from 3.5% to 6.5%. I am sure there is a good story here why.

[@earl-d4n]

he's a moron to do that

[@BcDano139]

Producer of a personal finance show and sweating mortgage rates????? Omg just stop already.

[@crohmer]

I hear marks voice I quickly change the channel

[@roilshe]

Is inflation expansion???

[@travissmith9488]

I disagree. Most refinances actually put you longer into debt and make you pay additional costs. It’s a big shadow game offered by banks to make you pay even more interest to them over time.

[@zacharylockhart4550]

Depends on the remaining amortization chart details, but it's possible you could have more cash now to invest into presumably higher returning assets over the length of the new term, so refinancing *can* be a net positive if they coincide with equity market drawdowns.

[@travissmith9488]

@@zacharylockhart4550 True. It's also possible that scenario would put you more into debt and more sensitive to the market's ups and downs.

[@TonyTrupp]

I’ve heard that the Fed is also unloading a bunch of mortgage backed securities that they had bought during the pandemic to try to boost the economy at that time, so now there’s too much supply of mortgage backed securities relative to buyers, which might be contributing to mortgage rates climbing.

[@AT-hs9nf]

Love this channel !!! Bottom line is who cares - get a home when ready and within your affordability and pay it off asap. I got mine at 6% 17 months ago and i am 13 months away from paying it off. Would have done the same at if interest rate was 2% too. I don't care abt ppl who say - oh markets make more if home loan is at 2%. Yeah good for u all Einsteins. I rather have 0 debt and sleep peacefully 😎. You all go buy your private jets 😂😂😂.

[@mflphd8131]

Does that mean my 2.875 30-year rate is good? When should I refinance? 😂

[@earl-d4n]

are you crazy? stand pat

[@midwestcannabis]

73rd like 🥳🥳🥳✌️✌️✌️

[@Happy123-45]

false. Previous mortgages at 14% had housing prices that were one third of what they are now. I paid a 14% mortgage so stop crying. Very bad analogy. 14% for a $250k mortgage is not the same as $800k at 8%.

[@mariov5035]

Chill bro

[@Stashley78]

It's all relative to income. Buyer affordability is the name of the game in housing, under any interest rate / inflation regime.

[@martytayman9138]

Total waste of time.

[@cookieforawookie]

Go touch grass, Marty.

[@HansSchick]

​@@cookieforawookieInbread idiot