Investing General Discussion
- Thread starter Furious
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Rod-138
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I think it’s better to get 4-4.5 with a bank you’re already set up with and feel comfortable with vs shopping for temporary rate winners. Just take the excess and throw it in the fidelity money market or whoever and you don’t end up @ uncle earls awesome bank
Furry
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Also worth considering if your bank will sell your loan to another bank. Going from one with a good working relationship to one without one can hurt you bigly if the loan is tight, though I'd also recommend not getting a loan that is tight, but *women*.
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Sanrith Descartes
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Sanrith Descartes
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UNP with a double miss and changing CEOs. Stock +10%
edit: Sold my shares on this move up. +34% gain for me in total. I will circle back if/when it dips back under $200.
edit: Sold my shares on this move up. +34% gain for me in total. I will circle back if/when it dips back under $200.
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sleevedraw
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So for the people talking about higher interest earing savings accounts. Found a bank today that is dropping 4.74% on savings, no minimum, and has brick and mortar branches in Dallas. Should I be wary?
Savings Accounts | Texas Capital Bank
www.texascapitalbank.com
They have a good Texas ratio, although there's been a lot of deposit flight out of them for some reason, and they have a very slim profit margin. They are probably not in immediate danger of failing, but offering a high rate appears to be their way of enticing people to get money in. Bear in mind that First Republic Bank also had a health rating of B+ and it failed; numbers only matter if the bank is being honest about them. If they do fail, they likely will get bailed out because they are large - Bask Bank is one of their subsidiaries, and they partner with American Airlines, so there's quite a bit of big money behind them.
Alternatives to consider (not trying to steer you away from Texas Capital, just offering other options):
If you're OK with a non-Texas/effectively online only bank, Republic Bank of Chicago has a money market at 5.21%. They do have brick and mortar branches, but only in the Midwest.
A German fintech company called Raisin holds their money in a bank called First Mid. They are at 4.80%. First Mid is Illinois based, but they have a single branch in Grapevine. Given the weird third-party relationship, you'd want to do your due diligence to make sure you have branch access if you went with them.
PlainsCapital has a 13-month CD special for 5.29% if you're willing to make your cash a bit less liquid. They
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Big Phoenix
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Sanrith Descartes
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Sanrith Descartes
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Jysin
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He also just said no 2% inflation until 2025. Big red candles after that statement
- Hiking until inflation is at 2% is formula for going past target; if we see inflation coming down credibly we can move down to a neutral level and be below neutral at some point - Don't see inflation back to 2% until 2025; would stop raising before getting to 2% - Source TradeTheNews.com
- Hiking until inflation is at 2% is formula for going past target; if we see inflation coming down credibly we can move down to a neutral level and be below neutral at some point - Don't see inflation back to 2% until 2025; would stop raising before getting to 2% - Source TradeTheNews.com
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OU Ariakas
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I know this is not great for the stock market, but my wife and I are cash heavy and looking for real estate to invest in. This may have been the best news we have heard in awhile because it means increased tightening of lending requirements and less people in the market which means desperate sellers.
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Big Phoenix
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I wouldnt count on that while so many people have sub 3% rates. Its why prices havent really crashed even though 30yr rates are 7%+ now.
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OU Ariakas
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No doubt, I am actually talking more about flippers, distressed homes, and investors who bought on ARMs.
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Unmet housing demand so badly dwarfs supply that at an average level well see at best a minor slowing of price growth. YMMV in specific hyperlocal markets. In my area a stupid percentage of sales are pure cash, so rates have no effect at all.
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The house next door to me just went up for 15% less than what I paid for mine in late 2021. It’s less than half the square footage, 3 times as old and on a lot half the size. And interest rates are 2x what they were then.
housing around here still seems crazy and there is no supply at all. I think people who were waiting out the crash are starting to worry one isn’t coming
to loop this back to relevant to the stock thread I think it must be one major reason Powell isn’t blinking, he knows the second rates dip or cuts seem imminent another 20% price surge in housing is going to happen.
housing around here still seems crazy and there is no supply at all. I think people who were waiting out the crash are starting to worry one isn’t coming
to loop this back to relevant to the stock thread I think it must be one major reason Powell isn’t blinking, he knows the second rates dip or cuts seem imminent another 20% price surge in housing is going to happen.
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Sanrith Descartes
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I think it really is geo dependent. In NY things have kind of peaked while here in FL the house I bought preconstruction has already had two small price increases for similar models.
Big Phoenix
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House sold at the end of march for $270000 on my street. It was a flip as whoever bought it has spent the past month or so doing some big renovations.
Listed on zillow 2 days ago for $470000 currently pending sale. This shit is not slowing down even in a supposedly cooled off market like Phoenix.
Listed on zillow 2 days ago for $470000 currently pending sale. This shit is not slowing down even in a supposedly cooled off market like Phoenix.
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Furry
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I housing prices? I wouldn’t count on it. Everything points to the fact that this should be a buyers market, but too few homes for the people willing to buy. I just don’t see a crash materializing while inventory is so strained. Especially not in cheaper to middle markets.
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