Will the The Woodlands, TX and Houston TX real estate market recover from the the Oil Industry downturn and continued layoffs that are occurring?
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yea, you ijiot
Yeah, you itiot.
2 percent you get will get a bill paid and still you wife will leave you sorry crybaby a-- not because of your raise or your crying a-- it's because you need and will become fat and g-- then you go to highway 45 and do us all a favor you itiot...
Must be millennials, nothing new.
This thread is comical. I would bet the older crowd that has been laid off understood how mortgage interest works. Even how to calculate it.
If a raise from 2% to 4% means your mortgage will double then this is only is you are on an interest only payment scheme...
For a $250k loan at 2% you could pay roughly $925 per month (no other fees/costs included) at 4% this rises to $1195.
While this is a pretty big jump it is not double... If you are in a situation where you have so much uncertainty that your bills could double overnight then you need to change your life significantly...
Depends if your house flooded with Harvey too. Also flunky math here doesn't understand interest rates doubling doesn't double your house payment just the interest side of the loan which also has the principal, taxes, and insurance escrowed. Must be a manager
Not with mortgage rates rising and more layoffs in other industries ongoing. A raise from 2% to 4% seems like nothing until you realize that it represents a double in the cost of housing and payments.
Don't look at it as 4%, look at it as people's mortgage payments doubling, then you will understand how severely it affects the housing market. Imagine renewing your mortgage to find out your $1000 payment is now $2000....
Yeah, pretty painful.