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2
Posted on 11/12/25 at 4:22 pm to GeauxBurrow312
quote:
Its not the same, most mortgages get packaged and resold frequently. If you go to the bank that issued you your first loan, they likely dont still own your original.
Mine's been sold off two or three times... my rate didn't go up, it was honored.
Posted on 11/12/25 at 4:23 pm to SallysHuman
I think its much more likely that debtors would be allowed to retain the rate on that specific portion of the debt rolled into the new mortgage. The rest would be at market rates based on the term selected.
I own a second home with a 2% mortgage right now. I could make that house my primary residence right now and as long as I have at least $1 balance on the loan, I could sell and upgrade with 2% interest for life? No fricking way.
I own a second home with a 2% mortgage right now. I could make that house my primary residence right now and as long as I have at least $1 balance on the loan, I could sell and upgrade with 2% interest for life? No fricking way.
Posted on 11/12/25 at 4:24 pm to Kjnstkmn
How old are you? Serious. 5% was a jaw droppingly low rate until about 15 years ago.
But either way. If rates were to drop, he could just refinance and keep the lowest rate in his lifetime forever. No shot
But either way. If rates were to drop, he could just refinance and keep the lowest rate in his lifetime forever. No shot
This post was edited on 11/12/25 at 4:25 pm
Posted on 11/12/25 at 4:25 pm to Kjnstkmn
I had to sell my 3% house for a 6% house. Do I get my 3% back?
Posted on 11/12/25 at 4:26 pm to SallysHuman
quote:
Mine's been sold off two or three times... my rate didn't go up, it was honored.
The OP post says same lender, the OG lender no longer owns the loan. It would make no sense for them to provide a new loan at a rate they would lose money on unless the government was subsidizing it
The simple and fair solution is to just cut rates for everyone
Posted on 11/12/25 at 4:27 pm to Vacherie Saint
quote:
I could make that house my primary residence right now and as long as I have at least $1 balance on the loan, I could sell and upgrade with 2% interest for life? No fricking way.
I imagine there would be conditions... such as primary residence and perhaps a time limit on "flipping", like maybe being in residence A 3-5yrs before moving on to residence B... or maybe having it only apply to two changes in primary residence purchases...
There has to be a way to make it work.
We are still in our first house, have a good rate... want to move to be closer to family, would definitely move faster if we could keep our rate.
Posted on 11/12/25 at 4:30 pm to GeauxBurrow312
quote:
The OP post says same lender, the OG lender no longer owns the loan.
Yeah, that would need some tweaking.
I'd like to see the concept better fleshed out- on the surface it looks a damn sight better than forever mortgages.
Posted on 11/12/25 at 4:40 pm to GeauxBurrow312
quote:
unless the government was subsidizing it
This post was edited on 11/12/25 at 4:41 pm
Posted on 11/12/25 at 4:46 pm to Kjnstkmn
Credit cards will never have low APR and nor should they. If someone is actually using a credit card as a means of borrowing money (as opposed for convenience and paying it off monthly), it means they are very high risk. Lower rates would just mean credit is not available to them
Posted on 11/12/25 at 4:57 pm to GeauxBurrow312
I carry high balances on my credit cards all year long and pay only 4% interest on them.
Via balance transfer offers with 18 mos at 0% and a one time up front 4% fee, then pay it off at the end of the year when company bonus comes in. My credit score is pretty good, probably better than it would be if I just paid it off every month, the credit bureaus seem to like it when you use your credit.
Why shouldn’t everyone get such a deal without having to find these work arounds?
Paying 27% interest and up for credit cards is usury
This post was edited on 11/12/25 at 5:01 pm
Posted on 11/12/25 at 5:00 pm to Kjnstkmn
Posted on 11/12/25 at 5:00 pm to Kjnstkmn
Trumps probably right here.
This mortgage and interest rate situation limits the mobility of the workforce.
Mobility of workforce necessary for functioning economy.
Especially with what we are seeing lately.
This mortgage and interest rate situation limits the mobility of the workforce.
Mobility of workforce necessary for functioning economy.
Especially with what we are seeing lately.
This post was edited on 11/12/25 at 5:01 pm
Posted on 11/12/25 at 5:00 pm to GeauxBurrow312
quote:
frick that
This is just a fancy way of saying some people get subsidized and other people get to hold the bag. People who bought at lower rates are not any more special than people who have bought at higher rates
exactly
they sure do believe they're more special though
Posted on 11/12/25 at 5:04 pm to Vacherie Saint
If you finance 100k at 3.5% that’s your rate on 100k. If you sell and move into a 500k home you will have 100k financed at 3.5 and 400 at the current rate at purchase.
Posted on 11/12/25 at 5:08 pm to Kjnstkmn
quote:
US Debt clock is saying the new state credit unions will be offering 0-3%
I'll believe that when I see it
Posted on 11/12/25 at 5:09 pm to Kjnstkmn
So if the 30 year bond is trading @ 4% and you have an existing mortgage at 3% and you want to carry your existing 3% onto a new home why would a bank lend to you at 3% when they can get 4% onto the bond market?
Just trying to understand how this is going to work.
Just trying to understand how this is going to work.
Posted on 11/12/25 at 5:15 pm to Sassafrasology
quote:
So if the 30 year bond is trading @ 4% and you have an existing mortgage at 3% and you want to carry your existing 3% onto a new home why would a bank lend to you at 3% when they can get 4% onto the bond market?
Just trying to understand how this is going to work.
Seems like you would need to have 2 mortgages. 1 old and 1 new. Meaning you never paid off the first one. The new home would be collateral but in the event that you're unable to pay the mortgage what happens then? 2 banks now have an interest in your new home.
The second bank is going to get less action on the loan so who knows how this could work.
Posted on 11/12/25 at 5:18 pm to Sassafrasology
No more treasury bonds, new dividend dollar instead. New state credit unions will end up with all of the mortgages. Why would you pay a private bank 6% if you can get 3% from your state credit union.
States will use the interest to fund the state and local governments instead of with property taxes.
https://www.usdebtclock.org/book/The-New-Money-Revolution.pdf
Governors Abbott and DeSantis have been talking the elimination of property taxes already.
No more paying interest to any private central banks. No federal income taxes. Tariffs, external revenue service.
This is the way.
End the endless.
States will use the interest to fund the state and local governments instead of with property taxes.
quote:
… difficult for banks to underwrite
https://www.usdebtclock.org/book/The-New-Money-Revolution.pdf
Governors Abbott and DeSantis have been talking the elimination of property taxes already.
No more paying interest to any private central banks. No federal income taxes. Tariffs, external revenue service.
This is the way.
End the endless.
Loading Twitter/X Embed...
If tweet fails to load, click here. This post was edited on 11/12/25 at 5:24 pm
Posted on 11/12/25 at 5:25 pm to Kjnstkmn
I Like this a lot better then 50 year mortgages. But this would be helpful .
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