Mortgage rates have been rising at a pace not seen in almost 50 years

Re:Mortgage rates have been rising at a pace not seen in alm... by ChuckMcM on Friday May 25, 2018 @01:39AM (#17150904)

This was the scenario that I saw during the mortgage crash. People who would have to pay the bank tens of thousands of dollars in order to "sell" their house.

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Re:Mortgage rates have been rising at a pace not seen in alm... by jartelt on Friday May 25, 2018 @02:10AM (#17151042)

Then those people had spent beyond their means when they purchased the home. When you buy a home, part of the risk is that most of your net worth is wrapped up in the home, and as a result you may not be able to move if you have to sell at a harsh loss. If you are not prepared to ride out a dip in the housing market, you shouldn't buy in the first place.

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Re:Mortgage rates have been rising at a pace not seen in alm... by ericd on Friday May 25, 2018 @02:24AM (#17151102)

The problem is that if everyone is making stupid bets (and the bank is also making stupid bets), you may also have to make a stupid bet if you're determined to own your home.

Or you could rent, but that's not just an economic decision.

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Re:Mortgage rates have been rising at a pace not seen in alm... by masonic on Friday May 25, 2018 @06:42PM (#17158732)

Or, you could rent and live frugally before the crash, and then buy cheaply.

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Re:Mortgage rates have been rising at a pace not seen in alm... by Rapzid on Friday May 25, 2018 @01:49AM (#17150932)

10s? To be so lucky...

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