Should I Buy a Home Now
or Pay More Later?
Hi Friends,
I came across this information in my reading today and I thought you may have some interest in it.
“With mortgage rates creeping up toward 5% as 2013 draws to a close, potential home buyers have some decisions to make — and soon.
The danger for potential home-buyers isn't that mortgage rates are nearing 5.00%; the real threat is that rates could go higher, to 5.50% or even 6.00% in 2014.”
The article spells out the financials consequences a buyer would face by waiting. ($67,746 on a $300,000 mortgage).
They went on to identify four things a buyer should take into consideration before delaying a decision to purchase.
The financial advice Forbes gave to their readers was rather simple. Buy now or pay more later!!
Let me know if you have any questions!
“With mortgage rates creeping up toward 5% as 2013 draws to a close, potential home buyers have some decisions to make — and soon.
The danger for potential home-buyers isn't that mortgage rates are nearing 5.00%; the real threat is that rates could go higher, to 5.50% or even 6.00% in 2014.”
The article spells out the financials consequences a buyer would face by waiting. ($67,746 on a $300,000 mortgage).
They went on to identify four things a buyer should take into consideration before delaying a decision to purchase.
- Rates will likely rise — and soon with 5% interest rates right around the corner.
- The Federal Reserve will stop “tapering” causing rates to return to historically normal levels (6-7%).
- Home values are rising
- The autumn buying season is underrated “as you can take advantage of year-end tax breaks and the fall weather makes it an ideal time to move”.
The financial advice Forbes gave to their readers was rather simple. Buy now or pay more later!!
Let me know if you have any questions!
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