Home › Forums › Housing › Hope you already finished your refi!! › I think what Josh was trying
I think what Josh was trying to say (though I could be wrong) is a theory I’ve had for some time:
People can afford a max payment of X.
If you buy when interest rates are high, that depresses home prices because they still have to fit under max payment X.
If you buy when interest rates are low, that tends to increase sales prices because there is more room under max payment X.
Therefore, you’re better off to buy when rates are high (lower purchase price) then refi once interest rates drop.
You can always change your interest rate, but once you buy the purchase price can never be changed.
