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twenty3

2,288 Posts.

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19/01/17

13:55

Post #: 22001426
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Originally posted by nosirommit ↑

I find this study untrustworthy.
It says that 42% of home owners would experience mortgage stress if rates went to 7%.

Approx 30% of home owners have no mortgage what so ever.
Approx 25% of mortgage holders are 12 months or more ahead in payments.

So according to this study only 3% of home owners have a mortgage that would not cause stress if rates went to 7%.
This is simply not true. The majority of home owners haven't bought in the past few boom years, are sitting on low mortgages with huge capital gains.

I'm not arguing the premise, just that I don't hold any faith in this study. I've never heard of Digital Finance Analytics and to say their website looks amateurish would be an understatement.

This post is less retort to the OP and more a warning to those reading to do your own research and not take dribble such as this as gospel.

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...and forever the mindless herd grows.
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