Timeline for Is an interest-only mortgage a bad idea?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Aug 25, 2016 at 6:21 | comment | added | Chuck van der Linden | really it comes down to do you want to refinance on your own terms (if rates drop enough to make it worth it) or be forced to refinance on someone else's schedule when rates might be a lot higher, or your house is perhaps underwater and you can't borrow enough against it to even manage a re-fi | |
| Aug 25, 2016 at 6:16 | comment | added | Chuck van der Linden | har! yep at the time rates were lower than we had seen in a huge time, and there was a lot of thought that they could not go much lower.. I still think my answer was good advice, as I've known far too many people that overbought during the housing price bubble of the prior decade. (and it was a bubble, just find a 100 year chart and look at the trend line, we were way above it). I'm frankly a bit worried we are headed to a second bubble because so many folks "waiting for prices to go back where they were" don't realize the drop in 2008 basically took us back to the trend line. | |
| Aug 24, 2016 at 21:25 | comment | added | neminem | Ha. I just upvoted this, mostly for the very accurate-sounding: "The odds of it being higher depends on who's crystal ball you look at. I think most people would say that rates are likely to increase (and the disagreement is over just how much and how soon)." Then I noticed the timestamp, and... well dang. It was posted just about exactly 5 years ago. So much for that prescience :D. 5 years later, rates totally went lower, and only now are we solidly expecting them to go back up, most likely. | |
| Jul 8, 2011 at 1:15 | vote | accept | mpenrow | ||
| Jul 7, 2011 at 20:40 | history | answered | Chuck van der Linden | CC BY-SA 3.0 |