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Guest Shedfish

San Diego Real Estate Chrono-collapsometer

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Guest Shedfish

San Diego Real Estate Chrono-Collapsometer

30-year fixed rates have dropped like a rock since late July:

Subprime mortgages see early defaults

More subprime borrowers are defaulting in the early months of their home loans ... in recent months, an increasing number of lenders catering to borrowers with weak credit have reported a sharp rise in delinquencies that had occurred as soon as six months after origination.

thehousingbubbleblog

The phrase ‘investment condo’ will become an oxymoron for a while, a long while on the coast.

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San Diego Real Estate Chrono-Collapsometer

30-year fixed rates have dropped like a rock since late July:

Subprime mortgages see early defaults

More subprime borrowers are defaulting in the early months of their home loans ... in recent months, an increasing number of lenders catering to borrowers with weak credit have reported a sharp rise in delinquencies that had occurred as soon as six months after origination.

thehousingbubbleblog

The phrase ‘investment condo’ will become an oxymoron for a while, a long while on the coast.

Three really nice finds from across the pond. Funny loans, chasing the market down, a stuck market with nothing selling, and the pain of losing equity between buying and selling.

Coming our way soon?

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Guest Shedfish

Three really nice finds from across the pond. Funny loans, chasing the market down, a stuck market with nothing selling, and the pain of losing equity between buying and selling.

Coming our way soon?

cheers Redwing - gonna bump this once just in case

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Another nice one from the venerable Wall St. J:

http://www.realestatejournal.com/columnist...4-fletcher.html

Refinancing From an ARM
To a Fixed-Rate Home Loan
By June Fletcher
Question: I currently have an adjustable-rate mortgage for a home I purchased a year ago. Now the rates are increasing every other month. Someone suggested I refinance for a fixed-rate mortgage. How does this work? What happens to the previous mortgage and private mortgage insurance?
-- Sybil Eady, Philadelphia
Sybil: Hell is probably pretty crowded right now, but I hope there's a special circle reserved for lenders who make low-interest, adjustable-rate mortgages without adequately explaining how they work and what their drawbacks are.
:lol:
And I don't mean just handing you a written form along with the mountains of other paperwork you receive when you apply for a loan. I mean talking to you about what could happen under worst-case scenarios -- until you understand your risks clearly.
Low-interest, interest-only loans and so-called "option" adjustable-rate mortgages (ARMs) that allow buyers to make only minimum payments evolved over the last few years to deal with the "sticker shock" buyers felt when they saw how much home prices were ballooning every month...../
Now home prices have stabilized, while rising interest rates are causing sticker shock. In fact, the non-partisan Center for Responsible Lending says
97.5% of borrowers who have teaser rates expiring on loans this year could face "payment shocks" of at least 25%, while three-quarters could face increases of 50% or more.

And that 95% are not going to see pay rises of 25-50% or more to cover the hikes. :o

Not much different here with all those low intro rates and IO instant negative equity nightmares. :o

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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