The meager rates of 2020-2021 were a response to the pandemic. Unless something equally devastating happens, we will not likely see them again. There’s another opportunity you could miss today.
Homebuyers waiting for tomorrow’s lower rates may miss out on today’s prices. Home prices are rising at a slower pace than before. Prices are likely to soar if rates fall and the market heats up.
The cost of rates today may be lower than the cost of price increases later. Buying the home you can afford now – even if it’s not the one you want forever – can work in your favor. You’ll build equity through your regular payments, and any value increases.
Should rates fall, you can put equity earned toward another purchase or a favorable refinance. History offers homebuyers two critical lessons: real estate values typically grow over time, and people who purchase homes at rates much higher than today still benefit in the long run.
At Gershman Mortgage, we have programs to help first-time buyers and repeat buyers move into new homes no matter the rate environment. Reach out to explore your options today by contacting Andy Schoemehl at 314-221-7797.
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Andy Schoemehl | Vice President |
