Heloc = Loose your home like people did in 2008. The interest rate is at 9.25% nation wide. A refinance will not lower your bill at this time since interest rates are around 7% and rising. Doesn't make sense to refi with a higher interest rate than what you have already. Don't even let this guy talk you into a 10/6 ARM loan. So much wrong with this one.
Respectfully, that is not correct. Mortgage rates are 6.1% right now. The last time they were over 9% was roughly 30 years ago. That wasn't the point of the video though.
@@MikeJEagleRealtor I am correct, read the whole answer. As of today, the average interest rate for a home equity line of credit (HELOC) is 9.25% nationwide. I understand it will very by area and credit per person and the average person "needing" the loan will pay north of 10%. Now a 30 year fixed is at 6.9% nationwide as of today w/o FHA or VA help if you have a min. of 20% equity in your home. I stated interest rates are around 7% and rising. 6.1% is for VA approved 6.5% for FHA. So your stated 6.1% is correct for 3% of your audience.
@@knottoday7838 I didn't realize you were talking about helocs there. I thought you were saying the 30 year fixed was over 9. A 30 year fixed right now is around 6.1% and rates have been falling, not rising. Again though, that wasn't the point of the video.
@@MikeJEagleRealtor Yea, the point of your video was to suck in the the uneducated and take their money when they are falling on hard times and will eventually loose everything just like they all did in 2008 when the government allowed this crap last time. I'm trying to educate the masses in not believing the lies you and your ilk spread for a quick buck in your pocket. Why wont you tell them the name of who's backing these loans "stakeholder"? It's because you will borrow money at short-term rates from warehouse lenders then you are just going to sell off the loan to another holder.
![[Live] : ONE FIGHT NIGHT 25 วันนี้!! "อเล็กซิส vs รีเกียน"](http://i.ytimg.com/vi/suVr9a6BM2g/mqdefault.jpg)
Heloc = Loose your home like people did in 2008. The interest rate is at 9.25% nation wide.
A refinance will not lower your bill at this time since interest rates are around 7% and rising. Doesn't make sense to refi with a higher interest rate than what you have already.
Don't even let this guy talk you into a 10/6 ARM loan. So much wrong with this one.
Respectfully, that is not correct. Mortgage rates are 6.1% right now. The last time they were over 9% was roughly 30 years ago. That wasn't the point of the video though.
@@MikeJEagleRealtor I am correct, read the whole answer. As of today, the average interest rate for a home equity line of credit (HELOC) is 9.25% nationwide. I understand it will very by area and credit per person and the average person "needing" the loan will pay north of 10%.
Now a 30 year fixed is at 6.9% nationwide as of today w/o FHA or VA help if you have a min. of 20% equity in your home. I stated interest rates are around 7% and rising.
6.1% is for VA approved 6.5% for FHA. So your stated 6.1% is correct for 3% of your audience.
@@knottoday7838 I didn't realize you were talking about helocs there. I thought you were saying the 30 year fixed was over 9. A 30 year fixed right now is around 6.1% and rates have been falling, not rising. Again though, that wasn't the point of the video.
@@MikeJEagleRealtor Yea, the point of your video was to suck in the the uneducated and take their money when they are falling on hard times and will eventually loose everything just like they all did in 2008 when the government allowed this crap last time. I'm trying to educate the masses in not believing the lies you and your ilk spread for a quick buck in your pocket. Why wont you tell them the name of who's backing these loans "stakeholder"? It's because you will borrow money at short-term rates from warehouse lenders then you are just going to sell off the loan to another holder.