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bigredfish

bigredfish

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Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise
Here We Go Again: Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers Or Capital Raise | ZeroHedge

Earlier today, when Jerome Powell openly lied to the American People during the FOMC press conference stating without a hint of irony that the US banking system is "sound and resilient"...
https://twitter.com/HumanEvents/status/1653864923955617792?s=20

https://twitter.com/zerohedge/status/1653868838046298114?s=20
 
David L

David L

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bigredfish said:
I think you’re going to see mortgage rates in the 5-6% range for a very long time. And arguably that’s where they should be. Recall in the 80’s they were double digits.

0-3% is too low and helped create the problems we see today, 15%+ is too high and will kill the market.
Click to expand...
I paid 9.5% in early 90s

But was able to, not refinance, but entered a early payoff program the mortgage company offered, 26 payments a year and paid off the 30 year mortgage in 22 years...

Have to say there is a joy in paying off a house or a car, getting out of a clutches of the Leaners is a Great feeling...
 
David L

David L

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mat200 said:
I honestly would not mind paying 1980s interest if I could get 1980s prices .. ( adjusted to incomes of course .. )
Click to expand...
Agreed. I bought a Fannie May or Freddie Mac (can't remember) 1600sqft. home for $33k at 9.5% interest in 1990. Put down $3k and financed the remainder. My payments w/all taxes were around $400 a month. My salary was around $30k a year back then. Gas less than a $1. dozen eggs 50 cents, etc. It was very easy to make the monthly Mortgage payment. My father told me only buy what you (one person) can afford. If one person (wife) losses their job then they don't lose their house.

So ya want to hear how that house worked out. This is crazy, we sold the house for $50k and the total loan cost us $65k so $15k in the negative, add $15k more for roof, A/C. new flooring, etc. which is high balling it and we were at $30 expense/loss. Take $30k plus $3k down, divide $33k by 22 years and we were living there for only $125 a month.

Oh BTW our roof cost $1200 back then to replace, LOL, plus it was an upgrade from a 20 year to a 30...The increased price of oil killed those prices for oil based products.
 
rolibr24

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I think they want high interest rates to kill the housing market so no one can afford a house.

Then they can stack people in city’s to rent, or the government will subsidize rent.

People stacked living in city’s, relying on the government are easy to control. Look at LA, Shitcago, china
 
bigredfish

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,,,,,,,,,,,, Annnnd another..

First Horizon Shares Crash After TD Bank Deal "Terminated"
First Horizon Shares Crash After TD Bank Deal "Terminated" | ZeroHedge

First Horizon Corp. shares crashed in premarket trading after Toronto-Dominion Bank published a statement outlining how a deal to purchase the Memphis-based bank has been "terminated." The announcement comes after multiple regional banking failures.

The lenders said they both "entered into a mutual agreement" to terminate their originally announced merger agreement, announced on February 28, 2022. TD said it "does not have a timetable for regulatory approvals to be obtained for reasons unrelated to First Horizon. Because there is uncertainty as to when and if these regulatory approvals can be obtained, the parties mutually agreed to terminate the merger agreement."

Under the terms of the termination agreement, Canada's second-biggest bank will make a $200 million cash payment to First Horizon on top of a $25 million reimbursement payment.

As a result of the termination, shares of First Horizon plunged 52% in premarket trading.



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