Jon Grauman

So we haven't really seen much of an impact on mortgage rates. They are certainly lower today than they were, say, a year ago. But they haven't gotten into that zone where I think people are going to really be motivated to start to reengage. To me, that needs to have a five handle on it. And while some mortgages are now starting to be priced in the high fives. Really?

Yeah, no, I'm definitely seeing that, particularly on the arms, seven-year arms, 10-year arms, not so much on the 30-year fixed. But we are starting to see rates in the low sixes, high fives. It's not enough, again, especially in the face of an upcoming election to get people off the sidelines yet. But we're finally going in the right direction.

Yeah, no, I'm definitely seeing that, particularly on the arms, seven-year arms, 10-year arms, not so much on the 30-year fixed. But we are starting to see rates in the low sixes, high fives. It's not enough, again, especially in the face of an upcoming election to get people off the sidelines yet. But we're finally going in the right direction.

Yeah, no, I'm definitely seeing that, particularly on the arms, seven-year arms, 10-year arms, not so much on the 30-year fixed. But we are starting to see rates in the low sixes, high fives. It's not enough, again, especially in the face of an upcoming election to get people off the sidelines yet. But we're finally going in the right direction.

I think by all accounts, we could argue that we are at the bottom of the J curve and on our way towards an ascent. It's just a question of how long it's going to take us to get there.

I think by all accounts, we could argue that we are at the bottom of the J curve and on our way towards an ascent. It's just a question of how long it's going to take us to get there.

I think by all accounts, we could argue that we are at the bottom of the J curve and on our way towards an ascent. It's just a question of how long it's going to take us to get there.

No. Arms are adjustable rate mortgages that are tied to certain indexes like the LIBOR index. That operates separately from the prime index. The prime index is tied directly to what the Fed does, right? So if you have a home equity line of credit and the Fed lowers their rates by a quarter of a percent, next month, your mortgage statement will reflect that quarter of a percent.

No. Arms are adjustable rate mortgages that are tied to certain indexes like the LIBOR index. That operates separately from the prime index. The prime index is tied directly to what the Fed does, right? So if you have a home equity line of credit and the Fed lowers their rates by a quarter of a percent, next month, your mortgage statement will reflect that quarter of a percent.

No. Arms are adjustable rate mortgages that are tied to certain indexes like the LIBOR index. That operates separately from the prime index. The prime index is tied directly to what the Fed does, right? So if you have a home equity line of credit and the Fed lowers their rates by a quarter of a percent, next month, your mortgage statement will reflect that quarter of a percent.

arms are going to be tied to again perhaps like the libor index and it's going to be fixed for whatever that period of time is so if you have a seven year arm it means it's fixed for seven years but amortized over 30. so at the end of that seven year period it will adjust to wherever that index is plus whatever margin the bank establishes which is generally around two and a quarter or two and a half percent so for those people that locked in arms a few years ago that perhaps may have been a little bit short-sighted and not locking in longer

arms are going to be tied to again perhaps like the libor index and it's going to be fixed for whatever that period of time is so if you have a seven year arm it means it's fixed for seven years but amortized over 30. so at the end of that seven year period it will adjust to wherever that index is plus whatever margin the bank establishes which is generally around two and a quarter or two and a half percent so for those people that locked in arms a few years ago that perhaps may have been a little bit short-sighted and not locking in longer

arms are going to be tied to again perhaps like the libor index and it's going to be fixed for whatever that period of time is so if you have a seven year arm it means it's fixed for seven years but amortized over 30. so at the end of that seven year period it will adjust to wherever that index is plus whatever margin the bank establishes which is generally around two and a quarter or two and a half percent so for those people that locked in arms a few years ago that perhaps may have been a little bit short-sighted and not locking in longer

they could potentially have a rude awakening here when it adjusts.

they could potentially have a rude awakening here when it adjusts.

they could potentially have a rude awakening here when it adjusts.

It flows slower and there isn't sort of a direct lineage of it, right? There's also other different factors, again, like the demand for treasury bonds and so forth, which is not really a part of that equation, but factors in. So look, it's obviously, it's not black or white. It would be awesome if it were, but it's a little bit more nuanced than that.

It flows slower and there isn't sort of a direct lineage of it, right? There's also other different factors, again, like the demand for treasury bonds and so forth, which is not really a part of that equation, but factors in. So look, it's obviously, it's not black or white. It would be awesome if it were, but it's a little bit more nuanced than that.

It flows slower and there isn't sort of a direct lineage of it, right? There's also other different factors, again, like the demand for treasury bonds and so forth, which is not really a part of that equation, but factors in. So look, it's obviously, it's not black or white. It would be awesome if it were, but it's a little bit more nuanced than that.

The main point is that just relative to where inflation currently sits and where the economy sits, we haven't seen that huge adjustment in rates yet. And the reality is we may not, right? We're not going back to the days of 3% and 4% interest rates. That was an anomaly tied to a global pandemic.