Housing buyers 2 months ago were incredibly unlucky. If you ...
Housing buyers 2 months ago were incredibly unlucky.
If you bought a $500,000 home with 20% down, here's what your mortgage payment would be:
1. October 28th: $2,960/month
2. December 28th: $2,608/month
In other words, waiting 2 months to buy a new home would have reduced your monthly payment by ~12%.
Since October 28th, the average rate on a 30 year mortgage has fallen from 8.1% to 6.8%.
This marks the fastest 2-month drop in mortgage rates since the 2008 financial crisis.
Interest rates are trading like meme stocks.
If you bought a $500,000 home with 20% down, here's what your mortgage payment would be:
1. October 28th: $2,960/month
2. December 28th: $2,608/month
In other words, waiting 2 months to buy a new home would have reduced your monthly payment by ~12%.
Since October 28th, the average rate on a 30 year mortgage has fallen from 8.1% to 6.8%.
This marks the fastest 2-month drop in mortgage rates since the 2008 financial crisis.
Interest rates are trading like meme stocks.
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Jacob Pullen : You can just refinance the home…. Also when you refinance you don’t have to pay your mortgage for 2 months. They’ll be fine.
Pr3car1ous Jacob Pullen: Refinancing isn't Free......
Why would anyone refinance today when rates will continue falling into 24'