DEAL-BREAKER!: Mortgage rate increase THREATENS BOOM!

[Taylor Jennings]

So the 30yr mortgage rate went from 3.93% to 4.46% over the weekend! Holy cow!

Could that be the reason Mortgage rate applications fell 3%?

It would make sense!

How do you feel this will affect REI? Buying and Holding?

LINK: http://www.usatoday.com/story/money/2013/06/27/mortgage-rates-6-27/2463333/

[Jon Holdman]

Youngsters! First rental I bought waaaay back in 2008 was at 6.875%. Since refinanced.

First house I bought was in 1987. An owner carried 15 year mortage at 9%. And that was a good rate.

In 1982-83 OO rates on 30 year mortgages were 15%. Houses were selling like hotcakes.

4.5% means the sky is falling? Hardly.