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Thread: Interest Rates ?
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06-25-2022, 09:39 PM #11
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I just refinanced with Sharefax Credit Union at 3% from Greater Cincinnati Credit Union which was 5.15%.
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06-26-2022, 03:55 AM #12
Not a good time for loans, especially a variable. Interest rates will continue to rise. The best move might be to pay-off loans if at all possible starting with the variables (especially CC's) or highest fixed rate loans. Paying off a mortgage early and being debt free is freedom.
2022 Imagine 22RBE
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06-26-2022, 10:25 AM #13
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I got 5% but it is fixed for 15 years. A shorter term would likely give a lower interest rate.
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06-26-2022, 10:59 AM #14
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Just got my property tax bill. Between property tax and insurance we are paying $800 a month. Yikes! Our property assessment went up 23% this year which means taxes will go up $100 or more a month in 2023. May be time to sell the house and become full timers. That sounds more like freedom to me right now.
Mike & Linda
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06-26-2022, 11:40 AM #15
With higher mortgage rates and more stringent qualifications we will see less buyers in the market. This will result in a buyers market and home values will start to correct back to sanity. Property taxes and insurance should follow suit.
Nothing wrong with selling while the values are still up. You could cash out and full time while waiting for the prices to come down and then buy again with cash.
I bought my current and final home with cash after the '07 crash so now I just want the property values to go back down along with my property taxes.2022 Imagine 22RBE
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