We have another record high for the last twenty years or so. Current rates are higher than they have been at any time in my 22-year career. Be very cautious. You might not be able to “date the rate” and “Marry the house” as some Realtors are suggesting.
Also, check out the mortgage amortization chart I published last week.
Yes, homeownership is important but if it is going to lead to poverty don’t do it.
Interest rate increases seem to be the only tool the Federal Reserve has for dealing with inflation. It doesn’t seem to be working.
