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Real Estate
Reply to "Overpaying on a house - how are you justifying it?"
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[quote=Anonymous][quote=Anonymous]I want to trade up into a bigger house but even in my midsize market, prices are just going up despite interest rates hitting 8%. It's a bit depressing even though I'm sitting on a 2.75% and still in a nice area. Having said that, there is virtue in being patient. Something has to give at some point. Prices can't keep going up forever and interest rates can't keep going up.[/quote]] We bit the bullet to forego our 2.5% and get a bigger home with a new rate. The interest rate when we first met with our loan officer, a month ago, was quite different than it was a few days ago when we locked in. They are currently going up and probably wont plateau until the fall. You have to make quick decisions if you want to move. [/quote]
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