Why should you buy a home now? And why is it better to buy now? Home values have gone up, but because interest rates have gone down, you can actually buy a better house for a lower price right now than you could last year.
If you bought a home at $300,000 last year at a 4.7 interest rate, your monthly payment would actually be $110 MORE each month than a $330,000 mortgage at 3.7%, which is the current rate.
If you’re on the fence about buying, you might want to jump into the housing market before interest rates go up, as there are no signs that home prices will be dropping anytime soon.
Now, if you bought a home last year, you might want to talk to someone about refinancing and lowering your payments- it could save you a lot! If you need a recommendation for a good lender, please reach out to me!