Redfin Reports Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage...

The big news; mortgage rates at 7.1%. My how things have changed. I can remember for years when a 7% note would have been a cause for celebration. There was a time when 12-15% was the norm. The rate has doubled in the last 4 years;
https://themortgagereports.com/60404/freddie-mac-2019-claimed-the-fourth-lowest-average-mortgage-rate-on-record#:~:text=The%20year%202019%20was%20one%20of%20low%20historically,3.74%25%20mortgage%20rate.%20And%20across%20the%20entire%20year%3F
"In February 1980, the average 30-year mortgage rate was 12.85%. By October 1981, the average rate had risen to a whopping 18.63%. Mortgage rates gradually cooled as the decade wore on. By March 1985, the average 30-year mortgage rate was roughly 13%, and at the end of the decade, rates dipped below the 10% mark."
So, the headline is a relative thing depending on your age. Go ahead and buy that house at 7%. when we get an admin and congress in place that understands fiduciary responsibility, you can refinance back to a lower rate.
SGT James Murphy, CPT Jack Durish,
SPC Gary Welch, SGT Mark Anderson,
CPL Douglas Chrysler, LTC Trent Klug,
CSM Charles Hayden, SMSgt David A Asbury,
SSG William Jones,
SSG Michael Noll, MAJ Dale E. Wilson, Ph.D.
SGM Erik Marquez, CW3 Harvey K.
SFC William Farrell, CPL Ronald Keyes Jr
Sgt (Join to see), SSG (Join to see)