United States 30-Year Mortgage Rate

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2 pointskamaraju3 comments

2020 was a wild time. locked in at 2.75%. Going to be hard to justify selling and moving unless forced to.

Yep. Same here. I bought a pool and another property at very low rates. Already paid them off. It should have been obvious once the stimie checks started being cranked out what was going to eventually happen. Can't flood the system with that much unearned cash without rates going up. My only regret is not taking out more loans. Fun times. I doubt those days ever return, at least not for a decade or more.

At the same time, there has not been a housing crash. Surely if you have to lock in the current rates for 30 years, property prices must come down significantly (to the point of a crash), all else being equal?

So therefore, does that mean that the housing market is just frozen, i.e. number of transactions is way down? That does not make a lot of sense either, as some people need to sell and some need to buy. People would also likely rent out their properties instead of selling, so rents should be coming down too.

So then, are we in a suspended 'just-ran-off-the-cliff' situation waiting to look down, so to speak? Is a crash in house prices/rents/both around the corner?

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