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Waiting for mortgage rates to drop before buying could backfire. Lower rates might trigger a price surge as more buyers compete, wiping out your savings. Buying now at higher rates but lower prices may cost less overall.
Waiting for mortgage rates to drop before buying could backfire. Lower rates might trigger a price surge as more buyers compete, wiping out your savings. Buying now at higher rates but lower prices may cost less overall.
I'll also point this out. If we do see rates go down and people start competing for houses, you know what's gonna happen to the price of those houses? Mm-hmm. It's going to go back up again. And so right now you're paying a higher interest rate, but maybe a better price on the house than if rates come down, prices go back up.
