I received numerous questions in regard to mortgage rates yesterday, e.g. Will they come down again? Should I lock now or wait? What do I think will happen? As always, my answer was don’t wait to lock in your rate b/c nobody has a clue what will happen. VARIABLES AT PLAY I responded that way […]
Why 13% Interest Rates In 1980 Were Effectively LOWER Than Today’s; Real Rates vs. Nominal Rates
Mortgage interest rates were just under 19% in the early 1980s, as shown in this table by Freddie Mac, going back to 1971. BUT, “real rates” were sometimes LOWER than where they are today. This was a point that an inflation hawk made on a podcast I listened to recently. He borrowed money to finance his […]
Top Tips for Buying a Home
Buying a home is an important life decision. Make sure you consider these important tips before you buy: 1. Look at your finances and decide how much you can afford. 2. Make sure to physical inspect the home and property for potential fixes and hazards. 3. Tour the neighborhood at different hours to get […]