Waiting to buy a home until interest rates drop?
You might want to reconsider…
While it’s true that lower interest rates make it cheaper to borrow money, interest rates are just one factor that determine affordability.
Let’s talk about demand:
When rates drop, demand increases because more people can afford to buy. As a result, prices tend to inch upward as interest rates dip down.
In other words, if you wait to buy a home until interest rates drop, you may find you can’t afford the home you want because prices have jumped even more.
If you’re serious about buying…
The best thing you can do is to talk to a local realtor to discuss your options.
A knowledgeable agent will point you to a great lender and will be well-versed in various loan programs, and will help you find a home that fits your budget and needs.
Want to talk more about navigating this market? I’m here to help you make the best decision for you and your family. Schedule your strategy call today.
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