Why You Shouldn’t Rush to Buy a House Right Now
by Daniel Demian, CFA Level 3 Candidate
Sep 25, 2021
2 minutes
With mortgage interest rates at an all-time low, the temptation to buy is now higher than ever and may make sense for some. To put it in perspective, a 30-year $250K mortgage with a 5% interest rate would have once cost you $1,342; now, with a lower 3% rate, that same mortgage can cost you $1,054. At $288/month, the difference may seem negligible, but it adds up significantly over time — for someone
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