Buy Now? Or Wait For Interest Rates To Fall?

Good morning Joe - the question is much like that of market timing in the stock market.  Have a plan and work it.

Joe, that's the question of the day. Competition is slower than it was so it would seem to make sense to buy now if you can and refinance later.

Good Morning Joe, great video to share with us here in the Rain.  Make it a great day!

Interest rates will continue to rise. The Fed is supposedly fighting inflation by raising rates. However, the inflation is a result of the administration's war on oil. The administration continues to denounce the oil companies and even the individual gas station owners, instead of rescinding the rules they imposed on day one of administration.

If the root cause of the oil price debacle isn't reversed, then rising interest rates may push the economy into a recession without lowering the gasoline prices. We may end up with inflation and high gas prices and unaffordable new mortgages!

Often when homebuyers wait for interest rates to decline, they are disappointed when they don't.  Also, home prices may escalate if a rate reduction materializes, off-setting any benefit in the wait.

CONGRATULATIONS Joe, on having this blog FEATURED in the Old Farts Club group!  

Excellent information as always.  Love your videos!  I watched the entire video and couldn't agree more.  Having been in finance in a previous career, those folks have the wrong idea about housing.  They (finance people) mistakenly feel that we will drop in value by the amount we went up, 30%.  I doubt it's 30%, but we may see some decline in prices as some will panic, especially if they are over-priced, but our market in Phoenix is still a hot market with MANY companies moving here.  That dynamic has really pushed our demand higher.