Why You Should Capitalize on the “Negativity” About Mortgage Rates as a Buyer Right Now
By Tom Gilliam- RE/MAX Classic, Exceeding Your Expectations
(Re/Max Classic)
Even though mortgage rates dipped below 5% this past week, they’re still higher than they were just a few short months ago. This has priced some home buyers out of the market, and caused others to take a wait-and-see approach, hoping for rates to drop back down to historically low levels. It’s understandable why current buyers would want to hope and wait, but it’s impossible to say if rates will ever go back down to the 2% or 3% range, let alone soon. But if they do, it’s not likely to happen in the next few weeks or months, so the decision buyers have to make boils down to whether or not they’re willing to potentially wait years to buy a house. That said, based upon this Market Watch article, buyers could inadvertently be costing themselves more money by waiting for rates to come down...
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