i understand the concept of higher rates theoretically beingg ood for buyers, but man, the same loan I bought a month ago would cost 10% more a month for the payment. i doubt i could get the house for 10% less (i mean, maybe i could, since price is kind of fuzzy and indeterminate, but what i mean is i doubt the market has really fallen proportionately to the rise in monthly payment).
Not sure what that means, but, it is kind of nice assuming you’re going to hold on to the loan for a long time to ahve that low rate. Yeah, maybe you can refinance later, assuming you ahve the equity, and the good credit, but a locked in long term low interest rate is nothing to sneeze at.
I am also of the camp that reflexively mocks reltors who cry out ‘buy now while rates are low’ and it does sound cheesy and make you want to take the contrary side, but conisder– just because a realtor is saying it doesn’t necessarily make it untrue. Sometimes people who you are suspicious of actually say something true.
it might be biased, distorted and loaded with various caveats, it might be only possibly true, it might be just an opinion, but buying at a low interest rate is not necessarily in and of itself a bad thing! At least i’m going to keep telling myself that.
