Marry the House, Date the Rate
Don't become one of 'those people'
We've all met those people...
The ones that have been living in the area 'forever' and never pulled the trigger to purchase a home.
Perpetual renters telling "I should've..." stories with a sad shake of their heads, home prices now well out of their reach.
Food for thought to those of you wishing the rates were lower to purchase a home:
In 1971, the interest rate for a residential mortgage (nationwide) was 7.33%.
If you waited for interest rates to come down significantly, chances are you wouldn’t have purchased a home until 1993.
So, those that rented for 22 years waiting for rates to go down while the value of real estate quadrupled, got priced out of the market.
Here in the South Bay, prices double every 10 years.
That's a great investment!!
Don’t become one of 'those people' and wait for the market to cycle and reach the rate you wish you had.
You can always refi when they finally do go down.
