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A high-interest-rate climate gives you less buying power, so buyers who opt to wait for lower rates may find themselves able to afford a higher-priced house, due to the lower mortgage payments.
This is good news for people waiting on the sidelines to buy because mortgage interest rates have dropped to 6.38% for a 30-year mortgage, according to Zillow, which is down from 7.73%, per the ...
Today’s combination of elevated mortgage rates and high home prices has plenty of people wondering whether they should try to buy a home now, or wait for things to settle down.
Buying a house during a recession Recessions often mean slower hiring, and even job loss. Obviously, this can make it harder to qualify for a mortgage and push buyers out of the market.
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