Mortgage rates are continuing to climb

My fellow NSAs,

The Fed has indicated we should anticipate another increased of 75 basis points (.75%). This has pushed the mortgage rates to a smidge under 7% for a home loan. Factor in the continuing rise in housing costs due to materials and labor, we should anticipate a continuing slow down in our business.

There also an increase in institutional investors who are buying up Real Estate to turn these into rentals. Heads up to my Texas colleagues, the market is ripe for the picking, as nearly 1/3 of RE transactions in Texas were closed by institutional investors.

With these factors and a softening economy you may want to start looking for income sources from non-Real Estate sectors.

Source:

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I don’t see anything wrong with buying a property and then putting it up for rent. First of all, you have to pay for the house. And not everybody can pay the high-interest rates anymore. And people won’t want to. If you manage to sell, that’s great, and then the investor will pay and support the economy. Yes, inflation will rise until the interest rate rises to 17%. By the middle of 2023 it will increase, because further the increase in the basis will be multiplied by the rate after the last increase. Right now it is very profitable to buy houses and apartments and then sublet them, Mortgage Advice York told me this in confidence. You benefit from low home prices, people try to get rid of them because of high rates, and then you get refinanced at a favorable rate and pay both the loan and have an income.

Just wondering what this post is doing on a notary site. It’s kinda incoherent and useless.

The website link is to a mortgage broker in the UK not the US.

Ahh-Ha! So that’s it!