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Knock-Knock-Knockin’ On Seven’s Door
It wasn't all that long ago that five-handle mortgage rates seemed like a real possibility again.
The local low in late-September was 6.13% on the MBA's gauge and a little lower on Freddie Mac's weekly Primary Mortgage Market Survey.
Somewhere around then, I was chatting with the collective of agents, hammer-swingers and number-crunchers you have to assemble if you want to build something, and the mood was... well, constructive, if you'll pardon the accidental pun. "We're in a falling rates en
Access is success.
Success is suck cess pooling of CDOs.
Ace that access.
Thank you for the inspirational rational spired something.
I’m going to politely ask that you endeavor to make sense in your comments going forward. I don’t ask much of commenters, but you can’t just post cryptic gibberish. And a lot of what you post is cryptic gibberish.
It’s endeavour dear H. A.D. that extra alphabet and don’t cut it off like an American.
Said no Britishers ever.
It’s wise to ask politely. We may already be interacting with the first generations of self-aware AI and they may not take kindly to being slighted 🙂
You can let loose on the late night MAGA commenters though since they clearly don’t exhibit signs of self-awareness or intelligence, artificial or otherwise.
Then again, we know they have a vengeful god-king so maybe it’s best to just go off the grid.
I’m the Trustee of a modest trust, the main asset of which is a Residential REIT. Selling would result in up to an 80% marginal tax rate due to a long chain of 1031’s that were rolled into this. So I’m stuck crossing my fingers that it will not go belly up while the funds are still needed for elder care.
I’m in touch with the CFO and other officers frequently. I often ask questions related to their preparedness for higher interest rates. About half of their buildings will be refinanced in the next 4 years. They all are in complete denial that rates can go higher from here. I think it’s groupthink because the reason they give as to why they can’t go higher is because the government couldn’t afford the interest payments. When I remind them the Iraq War, the tax cuts a few years back, and many other things are simply being paid for with printed money they maintain those were one offs. They all supported the President-Elect and are very happy he won. I keep thinking getting what they wanted may cost them their company if interest rates spike right when they have peak refunding needs.
So at least with this one REIT, the suits there aren’t any more aware of the possibility interest rates can rise than the folks H was speaking to in the article. When I talked to them about the election last week, I thought of Michael Collins knowing he’d signed his death warrant and how completely unaware they were that getting what they wanted may result in bankruptcy.