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Reply to "What were your biggest financial mistakes?"
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[quote=Anonymous][quote=Anonymous]I'll start: 1. When we bought our house two years ago, the interest rates just began to increase. So our mortgage rate is 5.5%. We could have bought it down to 4.5% if we had paid an additional $60k for a couple of points, and over the course of the loan that would have saved us $600k (we have a crazy high mortgage loan). But we thought that we could soon refinance into a 3.5% interest rate, so did not take that deal... Now our plan is to pay off the mortgage aggressively, even though we would invest in the stock market if we had a lower interest rate. 2. We should have moved to our current area way sooner; then we could have bought a house way sooner and cheaper. [/quote] OP, I don't think you should feel bad about these particular choices. Real estate is often about luck. Yes, you can research and educate yourself but it is impossible to predict rates. Also, for your second choice, there were probably reasons you stayed in old area and they may have been valid. Rushing into big life changes isn't wise either. [/quote]
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