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Because in 10 years you will have to deal with the possibility of higher rates.  Since the average person is not moving for 13 years or so, most people will have to deal with this risk.  If you can afford the 15 year fixed and plan on paying at the 15 year rate, then it makes no sense to do the...

Calm down buddy.  This thread is about posting properties that closed for lower than previous purchase price. 

https://www.redfin.com/CA/Irvine/16-Thorn-Hl-92602/home/5857474

Sorry Mety, I dont buy that people move up every 5-7 years typically.  I would love to see where you get that data.  From what Ive seen is that Irvine families move every 13.5 years on average with a median years at 11.1 https://www.valuepenguin.com/how-long-homeowners-stay-in-their-homes#nogo...

Wrong.  payments are lower with a 10 year. Wrong.  Balance will be higher in a 10 year since you are making less payments Wrong.  You do not have the flexibility to change your payments and pay less in case you have cash flow problems.  You simply just pay less from the beginning. Amazing how...

Record highs are built in by default because money becomes cheaper and cheaper every year.  Hence price drops are actually more significant than price increases. 

I understand the lower payments and the possibility of a cash crunch, however one would be paying a lot more in the long run for the flexibility of these lower payments.  Furthermore if an ARM is the only way to afford a house, then I would argue that one cant really afford that house.  I feel...

If one can get a 15 year fixed at 3%, why would one take a 10 year ARM at 3%?  Am I missing something?

Considering a 15 year refi actually.  Ive seen 3.0% 15 year fixed with zero costs.  Nguyners website has 2.95% with no cost.  However with the 10 year down again today, I feel it should be even better now.

10 year down another 4.3% now.  At 1.48.  Rates should be even better now.

I was recently quoted a true no cost conventional loan at 3.375.  It may be even better now since i saw just 10 year drop on friday.

Me calling you a simpleton has nothing to do with the numbers I use (although the number I used was literally the median price drop taken from trulia), but rather your inability to do simple analysis to back your points.  Rather than trying to obscure your shortcoming with inaccurate claims...

LOL.  You still dont know why I called you a simpleton huh?  Hint:  has to do with YOUR math. 

I find it hilarious that IHO was asking for more recent OC register data thinking he was going to see price increases and instead sees even greater price drops.  You truly thought new numbers were going to show higher prices and help your argument huh?  Now we are seeing double digit price drops...

such a simpleton... 

@IHO, I think anyone who has been on this blog knows that you can continue non stop with your endless gibberish, so let me just summarize it here and end it.  You "debunked" my "claim" that "some" homes dropped 11% because only "one" zip code fell by that much?  Is that correct?  Ok great. ...

@IHO I must have really gotten under your skin in the past since you are now attacking me for even quoting articles that you referenced.  Do you even know the meaning of "some"???  For your reference "some" is simply an unspecified number.  It can mean 1 or 2 or 5 or 10.  In your efforts to...

Your posts are such nonsense, its hilarious.  My claim of a 11% price drop was not a claim but rather a quote directly form the article.  The article you referenced literally shows prices drops in almost every zipcode in Irvine and yes some had a price drop up to 11%.  What the article clearly...

Why dont you open the link that WTTCHMN posted on this post and it will show you what everyone else can see.  Like I said before, the article shows mostly price drops in Irvine, some as much as 11%.   

Perhaps you shouldnt cite the "article quoted above", since that was from May and not April.  Furthermore, whats the point in referencing an older data, when there is new and updated data?  Recent prices data based on this most recent article suggest prices drops.  Do you see anything that...