Is it the worst time to buy a house?
I'm new to all this and I was wondering if this is the worst time to buy a house? I've heard that prices are sky high and when a crash happens the prices will go down. Will interest rates be as high a few months from now? IF so, you can be worse off? TIA by ronalddavis876 from San Bernardino, California. Nov 4th 2022
Dave Skow (daveskow)
#15 ranked lender in Washington - 455 contributions
Ronald - if the presetn rates and projected mtg payment can work for your budget - timing is actually OK to consider buying ...the prices have dropped ...there is less competition - sellers willing to provide credits if asked .....even if the mtg rate and payment is high - you can always consider refinancing to a lower payment / rate when rates drop ( assuming you can qualify and also that the property value is still there )
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