Comments on: Ask us: “When should I refinance, or purchase?” ABC7 News is listening!

By: Refinance at 5.75% Fixed

Refinance at 5.75% Fixed — Sat, 21 Jun 2008 00:13:29 +0000

$180,000 Mortgage Only $638/mo. Compare 4 Low Quotes. No SSN Req.

By: daviddaniels

daviddaniels — Thu, 07 Feb 2008 01:13:49 +0000

Check out mortgageplan4you.com, it will answer all of your questions as to when it is a good time to refi. Fed rate cuts mean that the banks pay less on the money they borrow. it doesnt neccessarily mean that consumer rates are going to change much. The website will answer all of your questions and there are calculators that can use to determine if it would be worth it. There is even a calculator that will compare ARM’s with fixed rate mortgages for those of you contemplating. Thank you.

By: eddy

eddy — Fri, 25 Jan 2008 03:45:20 +0000

= Band-aid. Good for owners in lousy mortgages. Too bad it doesn’t lower the value of your purchase price. Unlike years past, this would have further fueled a bubble, but this is just slowing the burst. I think it’s a good move, but I still fear the worst is ahead.

By: Later

Later — Thu, 24 Jan 2008 20:50:12 +0000

If the conforming limit increases to $620Kish… the 700-800K properties in SF are goign to get a big boost.

By: Bob

Bob — Thu, 24 Jan 2008 19:54:23 +0000

See wsj.com - for obvious reasons the entire article cannot be posted here. [Editor's note: Agreed and thanks, here is the link to the article for other readers to be on the same page.]

By: Bob

Bob — Thu, 24 Jan 2008 19:22:00 +0000

“…the new limit would be 125% of a metropolitan area’s median housing price, up to a cap of about $725,000.”

What is the Bay Area’s “median housing price” – 125% of that should be the new limit for us!

[Editor's note: Does one of you have the link to said article?]

By: anon8mizer

anon8mizer — Thu, 24 Jan 2008 18:57:22 +0000

CNBC just reported that the limit has been raised from $417K to $625K…

By: Bob

Bob — Thu, 24 Jan 2008 18:11:55 +0000

Now this, on stimulus package planned:

“The package is also likely to temporarily raise the conforming loan limits for Fannie Mae and Freddie Mac, beyond the current $417,000, which would allow the government-sponsored companies to buy bigger loans in areas with high housing costs. Rep. Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee, said the new limit would be 125% of a metropolitan area’s median housing price, up to a cap of about $700,000.”

By: eddy

eddy — Thu, 24 Jan 2008 18:02:21 +0000

Good site James. Thanks. Lot’s of interesting excerpts on the site. Found this link there saying 30% correction in the housing market. I don’t think this is probable / possible, but it’s interesting that there are professionals willing to put it on the line.

http://www.marketwatch.com/news/story/merrill-lynch-says-us-nationwide/story.aspx?guid=%7B113721E5%2D3D7D%2D4938%2DB5E1%2D44401BD02AA4%7D

The economy is fragile and god forbid that anything like an Enron or other corporate scandle were to hit the market at this point.

By: james

james — Thu, 24 Jan 2008 17:12:58 +0000

eddy that is already happening. check it out here:

http://calculatedrisk.blogspot.com/2008/01/capital-one-ceo-managing-as-if.html

i don’t think you’ll find a lot of sympathy on this board for folks that bought with less than 20% down and without being able to truly afford the property they acquired.

i’m guessing here but the average frontsteps reader probably has either 300k in liquid investments (cash or stock in a non ira/401k type account) or at least that much in equity if not more.