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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Buying a house and sacrificing a really low mortgage rate for the current rates which are so much higher. Any reassurance that the rates should come back down again? Even to 4% or so? Excited about the house but the rate is painful. [/quote] Rates are indeed painful right now. Can you you use it to your advantage and offer lower on the house? That’s what we did. [/quote] The price of a home has nothing to do with interest rates on a mortgage.[/quote] That’s not true — if rates go up enough that buyers can’t afford current prices at current loan rates, prices will have to fall. It’s just that that’s an aggregate phenomenon and not an indicator that you can bid low on the particular house you want to buy. But the basic idea that raising rates will lower home prices is a significant part of the reason the Fed is raising rates. [/quote]
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