Down .01% from peak practically translates to rates stopped increasing.
Unlikely there are savings to be had yet unless you got in on the exact peak day, which I think was this Monday or somewhere around there.
well I locked in this week, so give it a few days 
Enraging topic, don’t buy it, whole industry is a scam.
Oh, thought you had been locked in for a couple weeks now for some reason… think we are down 0.125-.25% from top, top this week so maybe there are savings for you.
Buying a semi-attached townhouse originally built in 1939. Overpriced, yes, but seems impossible to assure normie wife and her lawyer family members that there couldn’t be any issues?
Super torn on whether to buy a house.
Part of it is FOMO. Super worried that prices will keep going up and up and I’ll be further and further behind the ability to ever own a house.
On the other hand. We like living close to center of the city.
The stuff we can afford to buy here is okay. But I dont love it. I kind of feel that if you are going to spend x amount of money and live there for years you should love the place. Right?
Amazing places further out of town. But mrs rugby not keen.
Additionally. The thought of living in the same place for 10 years. Or even close to that gives me horrors. I kind of want the freedom to move cities and stuff.
/ random stream of consciousness.
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The lenders policy is more than sufficient. The chances of an issue that results in a loss exceeding the mortgage is so close to zero that this lol industry can’t even find such a case as a scare story.
Lender’s insurance would fully defend any claims for as long as the loan is outstanding?
And any losses up to the outstanding loan balance would be covered by lender’s title insurance first (rather than equity I have in the home)?
Trust that I shouldn’t buy it, just trying to get my arguments lined up…
You have or are planning to have kids? School district is pretty important, and buying a house in a good one is valuable. Obviously factor in the one where you are, and the cost of a potential private alternative.
I’m not sure this is as much of a consideration outside of USA#47. I don’t think Rugby lives here.
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This is correct. Not sure on kids. But Mrs Rugby has already determined that any hypothetical kids will go to a specific highly selective state school with all the other tiger mommed asian kids in Melbourne, so I think we are covered.
Generally. The idea that I need to plan and commit so many years ahead is deeply uncomfortable.
I feel you. I’ve got a house and I can’t wait until I can get rid of it. Renting and not having to deal with home maintenance shit will be fucking amazing.
But the being tied down aspect is also a negative. I’ve been trying in vain to convince Mme Melkerson to leave the US. But she (and the kids) are quite emotionally attached to the house, so those talks never go anywhere.
Mainly I have no idea how these things work in other places.
In USA #1 buying is usually good because it is the best way to build wealth via leverage. Your mortgage can be refinanced any time without penalty and the interest is tax deductible. Not to mention property taxes are also deductible.
Correct.
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That’s true, but for most people the idealized dream of owning a home doesn’t include “I can’t wait to take advantage of that sweet leverage”.
But that’s true of all real estate investment. I was reading about a retired dude who owns a bunch of investment properties, but he lives in a rental himself as he plans to have a somewhat nomadic retirement. Similarly, I’m sure Rugby would have less angst over having an investment property that he owns and renting for his own home so he wouldn’t feel so tied down.
Costco currently doing a sale where you get 100-500 gift cards for various appliances. Need to buy a washer/dryer for the new house because it’s the one thing I couldn’t order what I wanted (wanted pedestals). Latest delivery date is 5/31, hopefully the house closes before then or I can push the date back.
Could have waited, but it came with a 500 dollar gift card for the model I wanted anyways. Also wanted to buy through Costco for the warranty/rewards.
