Cooling inflation may be sparking hope for more than just investors, as Federal Reserve officials have seemingly finished hiking interest rates. Mortgage rates may be sliding for their third consecutive week, but they remain rather high, hurting the real estate sector already suffering from inventory pressures.
Yahoo Finance Housing Reporter Dani Romero discusses mortgage rates and weighs in on the costs and benefits of renting versus purchasing a home in this housing market climate.
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There’s so much more to consider when comparing Rent vs Buy; especially with such high demand and low inventory. Disservice to your viewers! 👎
Those who plan to buy later better keep their eye on the ball. When rates drop more significantly homes prices will begin to move up rapidly. And even at today’s interest rates you will have options to refinance later when they drop more.
Reasonable rents will still move up unlike a fixed mortgage payment not to mention no equity or the security of your own home.
Still too high
If you are not buying right now, you are foolish, tons of homes priced lower than what they were at year or so ago. Once the rate drops, the prices will go back up with influx of buyers. Buy Now, and Refinance later (which can be as little as six months after purchase).
You should never buy in thinking you can just refinance.