This is a YouTube video titled "🚨 Waiting for Your New Home could be Costly 🚨" containing a monologue or presentation from July 21, 2021, discussing current housing and mortgage market conditions, including average loan amounts, interest rates, and home value trends, advising that buying now may be financially advantageous. The content features a single speaker and focuses on financial advice related to real estate.
Hey guys, want to find a new way to show what's going on in the housing and mortgage market? The average loan amounts about $380,000 today. The average interest rate is about 3%. Combine those, you have a $1,600 principal and interest monthly payment rates are expected to go up about three eighths of a percent by the end of the year. So that same principal and interest payment now only gets you about $360,000 worth of the house. Factor that in. With home values still booming, a 10% increase is expected in the next 12 months. The time to buy is now, and waiting probably is not the best financial option. SA.
