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3.12 corn and 7.90 beans
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Lookingglass
Posted 8/12/2024 08:36 (#10848090 - in reply to #10847708)
Subject: RE: 3.12 corn and 7.90 beans


Southwest Illinois
coup - 8/11/2024 20:13

Lookingglass - 8/11/2024 19:59

Joe R - 8/11/2024 19:46

Any reason they didn’t lock in long term fixed rates?


Had to be stupidity. Anyone who financed real estate from 2020 to 2023 and didn't lock in rates for the term of the loan wasn't too smart. Doesn't matter what kind of real estate, land, commercial or residential. We had a once in a lifetime chance to lock in some of the lowest terms ever, and it existed for over 2 years. No excuse to miss that boat.


Longest have had int locked in for the last 30 years has been 5 years, majority of the time has been 3 years or less on RE loans. Those who locked in long term rates over the last 30 years have wasted a lot of $.

I financed real estate in 20-23 time period on 15 year notes @3.15% and 2.55% for the first 5 years

3.15 % will reprice @ 4.15% for the last 10 years. 2.55% will reprice @ whatever.for last 10 years. Will pay the 2.55% off way things currently look, when the 5 years are up.. Will see what interest looks like when the 3.15% reprices to 4.15% as if let it continue on or pay it off.


I bought MSFT back when it was $30-$50. What does that have to do with the OP? Absolutely nothing, just like your self serving back patting rambling. If you borrowed money in 2020 to early 2023 and didn't lock it in for the life of the loan they aren't too smart. Loan rates were at record lows, now you can earn 5% at the bank. You could have easily locked in up to 30 year money under 3% on a residence, commercial real estate could have been locked in for 20+ years well under 4%. Guys in the 80s thought they were smart when the bought land and didn't have the money or didn't lock in the rate. Congratulations, you are a legend in your own mind.
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