Over just two years, mortgage rates have surged from 3% to 8%, which can add nearly $1,000 to the monthly payment on a median priced home. The supply of homes for sale has hit a record low, leaving many potential homebuyers anxious over when the best time will be to buy a home. CNBCβs Diana Olick reports.
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#Mortgage #Home #Surge
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So this is what build back better looks like.
You could also buy at 8+ percent and rates could just stay at 8+ for a long period because we print so much money and if supply eventually increases you will be under water and it will make more sense to give up the house and buy again if the rates ever drop causing an instant crash due to sudden oversupply.
good too many people in homes. I need people renting and working for 7.25 or even 2.15
We should build more homes, like a New Deal kind of a plan. For the people this time. Corporations, you had a good run.
Everyone is strapped right now. Do they really think a family member is going to bankroll a down-payment for someone?? ππ
Iβm in my 20βs I do want a house one day but later in life I really hope by the time Iβm in my 30s it changes
Why is everyone assuming rates will drop eventually? Rates may not drop for the next 10 years or even go higher, impossible to know what rates will do in the future unless you're Nostradamus
NEVER borrow from family.
There are plenty of houses for sale.
There for sale for months until the owner gives up.
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And one more piece of advice: Donβt be so desperate that you buy in a neighborhood with an HOA! DONβT do itβΌοΈππ€¨ππΎ