Home › Forums › Housing › Interest Rates and Home Prices › I don’t see rates rising
I don’t see rates rising that much. Here’s an example of them rising slightly.
A house today $500,000 20% down, loan of $400,000 interet rate 6.25% = 2,462/month
A house next year $400,000 20% down, loan of $320,000 interest rate 7.50% = 2,237/month
Plus if you choose to put down 20% in both cases you’ve saved $20,000.
I think you’re always better off to pay less for a house. You can always refinance later on.
