oops, guess that poll question range was too wide, not specific enough

[netmouse]

For those who answered (some form of) Yes, a certain loan interest rate seems excessively high, the majority responded that "too high " starts between 5 and 25 %, and I'd like to see a breakdown on that. Please answer this question too!

[Poll #1343223]

Comments

[sethb.livejournal.com]

A 5% spread is low? The current average mortgage rate (for new mortgages) is under 5%.

[grndexter.livejournal.com]

Uh huh. And how many "points" are being added up front? And mortgage "fees" and brokerage "fees" and are those low rates teasers or fixed or short term or long term or ARMS. Lottsa variables in there. Just because an ADVERTISED rate is one thing, that doesn't make it the ACTUAL (real world) rate. With a Fed funds rate of .25 (+/-), a spread of less than 5% is LOW! (Which is why my minimum ARM rate is 6%)

If PAUL (Not "Allen" DOH!) Volker gets an audience, or if he's not too senile to realize we're having Stagflation not a "liquidity crisis", then those rates can go up plenty and fast!

[sethb.livejournal.com]

Statistics on these things are published. Currently, 5.1% (with 0.7 points+fees) for a 30-year fixed, 4.8% (with 0.7 points+fees) for a 15-year fixed. Two weeks ago, they were both under 5%.