Mortgage rates have been rising in recent months, and it’s natural to wonder if this is a good time to buy a home. After all, higher mortgage rates mean higher monthly payments. But it’s important to remember that your needs matter more than today’s mortgage rates.
If you’re in a position to buy a home, and you’ve found a home that meets your needs, don’t let rising mortgage rates stop you. There are a few things you can do to offset the higher monthly payments, such as putting a larger down payment or getting a shorter-term mortgage.
Of course, you’ll also want to make sure that you can afford the monthly payments even if mortgage rates continue to rise. But if you’ve done your homework and you’re confident that you can afford the payments, don’t let rising mortgage rates hold you back.
Here are a few things to keep in mind when you’re considering buying a home in a rising-rate environment:
Buying a home is a big decision, but it doesn’t have to be overwhelming. If you do your research and plan ahead, you can still buy a home even in a rising-rate environment.
Here are some additional tips for buyers in a rising-rate environment:
Buying a home in a rising-rate environment can be challenging, but it’s not impossible. If you’re prepared and you’re willing to work hard, you can still find a home that meets your needs and your budget. Feel free to reach out to me with any questions you might have, the Tate Advisory Group is here to help.
The Tate Advisory Group is ready and willing to assist you with all of your real estate needs. Contact us today to get started with your home buying or selling process!
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The Tate Advisory Group is a team of real estate agents affiliated with Compass. Compass Florida, LLC d/b/a Compass is a licensed real estate broker and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit propertyalready listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.