This is a YouTube video titled "🚨 Best and Worst Case for Housing Market 🚨" containing a monologue or single-speaker discussion from March 3, 2022, analyzing potential best and worst case scenarios for the housing market over the next 12 months, focusing on interest rates and monthly payments for a typical loan. There is no indication of multiple speakers or involvement of Derek McGowan.
Today. Let's play out the best and worst case scenarios for the housing market in the next 12 months. Currently, rates are about 4% on conventional loan. An average $300,000 loan amount is about 1400 bucks a month. Best case scenario, interest rates happen to drop a half percent. Not predicted. But if they do and houses only go up a conservative 10% in value, it still increases the monthly payment 50 bucks a month. Best case, worst case rates go up a half percent, houses go up 15%. Monthly payment goes up $300 a month. So either way, best or worst case scenario in the next year. Still better to buy now.
