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October 30, 2023
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October 30, 2023
Mortgage Rates Today October 30, 2023
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The Home Wealth Effect: Decoding Consumer Spending and Housing Equity
The Home Wealth Effect is an intriguing phenomenon of consumer spending, depleted savings, maxed-out credit cards, and the mysterious role that home equity plays in this financial puzzle. Join Bill as he explores why so many consumers are spending freely, seemingly unconcerned about their rising debt, all in the name of the "Home Wealth Effect."
In a world where savings are dwindling and credit card limits are pushed to the edge, many consumers hold a secret belief that their home will save them from financial turmoil. Bill investigates the reasons behind this mindset, dissecting the "Home Wealth Effect" from multiple angles, and addressing key questions such as:
- What drives consumers to increase their spending despite dwindling savings and mounting debt?
- Is there a genuine reason to rely on home equity as a financial safety net, or is this belief based on wishful thinking?
- What is the impact of the housing market's fluctuations on consumer spending habits?
- How do these financial decisions affect the broader economy and society as a whole?
- What can we learn from the individuals who have successfully navigated this challenging financial terrain?
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Are you ready to make homeownership a reality? Run your numbers or schedule a free consult with our team to see if the math makes sense for you!
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Gaylord-Hansen's "Mortgage Rates Today" show airs daily on YouTube.
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The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative.
Estimated Mortgage Payment is for exemplary purposes only. Contact a licensed loan officer for exact numbers and APR. Additional rates and terms may apply and are subject to change without notice. Loan scenario assumes a purchase price of Zillow's list price and a 10% down payment. Points and fees not included. Property tax, homeowners insurance, mortgage insurance, and HOA fees are approximate and may vary. Other fees may apply. Product displayed is a conventional 30-year fixed rate mortgage using the current average rate as shown on Mortgage News Daily (mortgagenewsdaily.com).
Estimated Qualifying Income assumes a homebuyer has a FICO score above 740, no other credit debt, and a debt-to-income (DTI) ratio of 43%.
For exact numbers and APR or to run a loan scenario based on your own credit and income, contact our office at (858) 259-8700.
Rate Source: Mortgage News Daily. Rates displayed are approximate, subject to change, and do not necessarily reflect rates available to you. MND’s methods involve an objective component based on lenders' raw prices as well as a subjective impression from their network of originators. For more information about how these rates are calculated, visit www.mortgagenewsdaily.com/mortgage-rates/about.
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Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call (858) 259-8700 for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the federal government. CrossCountry Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of the Veteran Affairs Office or any government agency. Certificate of Eligibility required for VA loans. By refinancing, the existing loan total finance charges may be higher over the life of the loan.
