Easy money is baaaaaaaaack!
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Current interest rates are high compared to rent !
This is from WFC, yesterday quote.
At 90%, SFR (Single Family) - 4.375% at no points with borrower paid mortgage insurance.
Condo – 4.625% at no points with borrower paid mortgage insurance.
*We do have LPMI (lender paid MI), however in this instance I don’t recommend, as the rates (5.5% with points) are prohibitively high.
If BurkeyLoan, it may be higher than this.
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2021, lender Burkey Loan implodes after being idiots and not learning the lessons of the Great Recession.
See me a recession pretty soon…stated income, 1% loans…
I assume you’re referring to RE in SFBA. So are you suggesting that at this moment, the potential gain in price appreciation is not good enough to compensate for the unfavorable rate vs rent? Investors should wait?
Yes SFBA only. This is for primary homes, not talking about investors.