Problem - Interest rates are higher right now than they have been recently- let’s get some perspective
Shawna - last 15 years we have had BELOW average interest rates - we are now slightly above average - we may not see interest rates in the 2’s and 3’s again
Let’s talk about what we saw when interest rates were at an all time low - OVER list price, waived inspections, appraisal gap coverage, free netflix subscriptions for life. . . (some buyers got very creative!)
Jesse - Nobody wants to pay a higher interest rate, BUT waiting to buy may NOT be in your best interest -> Date the Interest, Marry the House.
Shawna - what does that even mean
Steven - There are ways to make your mortgage more affordable in the short term - with the higher interest rates -
Conclusion - if you want to buy a home, don’t wait, until rates drop, because that’s what everyone else will do! Buy NOW, get the home for lower and refinance when interest rates go back down!
$400,000 at 4% = $1,909
$400,000 at 7.35% = $2,762 $400,000 at 6.5% = $2,528
Hypothetically if prices go up. . . $440,000 at 6.5% = $2,781