It’s the end of 2024 and I bring to you the last mortgage rate update for this year.
This week’s episode includes an example of my Cost of Waiting report which factors in projected appreciation rates and forecasted mortgage rates. This report uses data to illustrate if it’s worth waiting for lower rates to buy a home. I hope you’ll check it out and let me know if you would like a report based on your criteria.
Of course, I’ll be back next Monday with the first update for 2025!
Happy and Healthy New Year!
Twas the season of spending with American’s splurging over $1100 on gifts this holiday season. Credit card interest rates average around 24% with 
If you’re a homeowner wanting to buy your next home, you might be feeling reluctance to trade your existing interest rate for a current mortgage rate. It’s easy to understand when mortgage rates are double from what they were a few years ago. Historically speaking, mortgage rates are actually closer to what would be considered more of an average range than the Fed manipulated rates of years past.
Dave Ramsey is someone a lot of people follow for financial advise. Lately he’s been showing up A LOT in my Facebook stream pushing his thoughts on mortgages, home ownership and credit. Some of his ideas, I don’t totally disagree with. In fact, I shared a post that came from his group encouraging people to continue to pay rent and make their mortgage payments during the pandemic if at all possible (ie nothing is for free). However, I don’t support what he instructs his followers who are considering buying a home and I also have an issue with anyone who pushes their “team of vetted real estate agents”…I would be really surprised if there is not some sort of financial relationship associated with this referral arrangement.
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