Question for Potential Coli Home Buyers

[King Harlem]

Are you going to wait for Mortgage rates to go down? And if so, how low?
I think I'm holding off for Mortgage rates to get down to below 5% or end of next year (which ever happens first).

 

[hashmander]

lower interest rates = more buyers = higher prices = higher down payment

 

[King Harlem]

lower interest rates = more buyers = higher prices = higher down payment

I hear what you are saying, but we are talking about 30 years being locked in at around 6.75%. I'm willing to wait even it means a slight increase in home prices and me making a larger down payment (and the longer I wait the more I will have for a down payment).

Appreciate the input though, it might be worth it to just go ahead and pull the trigger.

 

[OneManGang]

Are you going to wait for Mortgage rates to go down? And if so, how low?
I think I'm holding off for Mortgage rates to get down to below 5% or end of next year (which ever happens first).

It’s not happening bruh. I bought 2 years ago on this same premise

Now mfers telling me my 6.25% a steal . Just buy if you can afford it and refinance when/if they come down. The way it’s looking you’re losing money trying to wait for the fantasy of rates coming down soon

 

[newarkhiphop]

Buy now, houses will only get more expensive.

 

[DonB90]

6.75 ain't bad is what people fail to realize