this post was submitted on 22 Jul 2023
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[HN] Middle class homebuyers taking $7k mortgages planning to later refinance down (fortune.com)
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[–] Tygr@sh.itjust.works 1 points 1 year ago

As a lender myself, I’m equally surprised when I break news of a $4500/mo quote and they expected more. Now, there are ways to combat high rates with solutions like 2/1 temporary buydowns, but I always caution it may take longer than that for rates to come down to the 5’s.