Low interest rates makes it a great time to buy and make your home worth more.
Interest rates are ridiculous right now under 3.3%. That is less than the US inflation which is 4%. getting a mortgage today is the best time because of that. I remember when interest rates were double digit in the mid 80’s. People with lower interest rates could sell their homes for more because of that. Imagine paying 18% on a loan.
Let me give you an example. When the interest rates were 18% homes were not selling for top dollar. The properties that did sell for more money usually had lower interest rates on them. Some had 7% mortgage rates and equity. Buyers would qualify for their existing mortgage and give the seller their equity money as a down payment. That would save them as much as 11% on their loan.
So you can see that lower interest rates especially with the interest rates we have today. Getting a mortgage today maybe worth more in the future.
When interest rates do start going up the homes that have the lower interest rates loans could have an advantage in the market with their property.
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