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Let’s look at mortgage rates over the decades to really understand where today’s rates stand. Right now, we’re at 7.04%. While it may seem like rates are high compared to the 3% days many of us are used to, it’s important to remember that when interest rates rise, home prices typically drop. On the flip side, when rates decrease, home prices tend to rise. The key here? You can always refinance your mortgage when interest rates go down—but you can’t change the price of your home. Buying now means
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Let’s look at mortgage rates over the decades to really understand where today’s rates stand. Right now, we’re at 7.04%. While it may seem like rates are high compared to the 3% days many of us are used to, it’s important to remember that when interest rates rise, home prices typically drop. On the flip side, when rates decrease, home prices tend to rise. The key here? You can always refinance your mortgage when interest rates go down—but you can’t change the price of your home. Buying now means
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