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.
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.