Quote:
Originally Posted by ApS
Definitely a numbers game.
Washington is pressuring "The Fed" to lower interest rates; when that happens, the dam will break.
BTW: I have an opportunity to buy into a Florida house with an assumable 3.5% interest rate. I'm considering it.
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Interesting that you found a very rare assumable loan. Is that a VA loan?
For the younger Forum readers, most every home loan written was assumable up until the late 1960's or early 1970's. It was then that the lenders woke up and realized that they could make a lot more money by writing a higher priced fresh loan (charging "points" and closing costs). Assumable loans all but disappeared.
Profits always seem to rule the day.......