Keller Williams Realty Integrity Lakes - Kevin Conrad

Should I buy now or wait until rates lower?

Should you buy now when the rates are in the low 7’s or wait until they drop?

Great question and I put together a table to address buying now vs. 1 and 2 years later.

What you need to ask yourself is if you believe home prices will continue to increase. If the answer is yes, buying now will save you a lot of money as long as you refinance when rates lower. Even this year we had an appreciation of 2.5% while interest rates were 1% higher than after May of 2022. What kind of appreciation do you think we are going to see when interest rates drop?

Take a look at the table I put together. Based on some assumptions (where rates will be) and averages, I believe my numbers are conservative. Waiting until rates drop will cost you $, but everyone needs to make that decision for themselves.

11-29-23 LinkedIn - cost of waiting.png

Should you buy now when the rates are in the low 7’s or wait until they drop?

Great question and I put together a table to address buying now vs. 1 and 2 years later.

What you need to ask yourself is if you believe home prices will continue to increase. If the answer is yes, buying now will save you a lot of money as long as you refinance when rates lower. Even this year we had an appreciation of 2.5% while interest rates were 1% higher than after May of 2022. What kind of appreciation do you think we are going to see when interest rates drop?

Take a look at the table I put together. Based on some assumptions (where rates will be) and averages, I believe my numbers are conservative. Waiting until rates drop will cost you $, but everyone needs to make that decision for themselves.

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