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Real Estate
Reply to "Buying house with cash"
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[quote=Anonymous][quote=Anonymous]Mortgage rates make a huge difference. At 3 percent it’s not a terrible idea because you keep more of your money and get the tax benefits. At current rates you’re paying so much to borrow the money, you’d make more in an investment account. [/quote] Do I understand correctly that at the current (high) mortgage rates, it makes sense to pay cash vs at the lower mortgage rates, borrowing would make sense? The mortgage deduction and the SALT cap would roughly be the same as the standard deduction, so the tax advantage of carrying a mortgage is less of an incentive now. [/quote]
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