What happened to all the work? No orders, no refi, no foreclosures, no purchases,

[Fernando]

I

I can't afford a trip to Japan, the air fare would kill me.

Japan has a cheapo budget airline which has kept fares lower than going to other Asian countries.

 

[elissat]

The AMC's are hiring up as many appraiser's as they can get because THEY have all the work...now they pay NOTHING to them and rake in the CASH. We need to get this fixed!

 

[James Mpls]

Yellen is an academic, a byproduct of the teachers lounge mind set. She believes in modern monetary theory or New Keynesian Economics which suggests government spending isn't inflationary even though Austrian theory has shown government is the only source for long term inflation. She thought inflation was transitory because of the pandemic supply demand imbalances, a temporary phenomena that turned out to be more or less permanent. Now she is financing deficit spending with short term paper which is about as risky as it gets in a rising rate environment.

That way of thinking is reserved for the people closest to the money printer (like Yellen). I started stacking BTC at the very beginning of 2017, and life just gets cheaper like that. I also hold a ton of equities mostly Nasdaq (NVDA at $100 - pre split). These are the only ways for young 40 somethings like me to beat inflation these days. Exponential growth of technology…

 

[Tom D]

so who is going to refinance their 3% mortgages with a new 7% mortgage. record breaking mort business with now record breaking, we ain't doing 7%, time out. most of us have seen this many times, although i never saw 3%. once again the fed has screwed it up. they never seem to know when to tighten low rates, instead of hitting the breaks.

 

[ucbruin]

No one on this forum was upset at 3% interest rates during our Great Pandemic Profiteering Golden Era....

AMEN BROTHER WALKER....

 

[J Grant]

No one on this forum was upset at 3% interest rates during our Great Pandemic Profiteering Golden Era....

AMEN BROTHER WALKER....

Many of us expressed concern about the multiple bids and sky-high prices, and some here about the effect of over-borrowing at those low rates. You have a short or selective memory - or just enjoy being contrary perhaps.

 

[CGinMN]

so who is going to refinance their 3% mortgages with a new 7% mortgage.

People with 17% credit card debt.

 

[ucbruin]

Many of us expressed concern about the multiple bids and sky-high prices, and some here about the effect of over-borrowing at those low rates. You have a short or selective memory - or just enjoy being contrary perhaps.

You have to be kidding me....
One may have expressed concerns but one continued to participate....
We all knew that once rates went back to "normal", refi volume would disappear....
I'm quite sure most if not all appraisers' motto at the time was....
"Make hay while the sun shines"....

And many of today's whiners were Pandemic Profiteer braggarts....

 

[Charles West]

That way of thinking is reserved for the people closest to the money printer (like Yellen). I started stacking BTC at the very beginning of 2017, and life just gets cheaper like that. I also hold a ton of equities mostly Nasdaq (NVDA at $100 - pre split). These are the only ways for young 40 somethings like me to beat inflation these days. Exponential growth of technology…

Excellent strategy. Equities (tech) is the place to be for the next 10 years.

 

[Joe Flacco]

They will be doing second mortgage instead of refinance but Freddie is probably going to do value acceptance up to 80%-90% cltv of the avm value for the second mortgage anyway.