Cost of Waiting to Buy in Both Price and Interest Rates
Have you ever been shopping on a website where you were looking at something that was on sale? You were interested in it but there wasn't a sense of urgency and maybe, you had a lot going on and didn't get back to it for a few days. When you did go back to the website, the price on the item had returned to its regular price. How did you feel? Did you go ahead and purchase it for the current price? How did that make you feel knowing that if you had acted more decisively, you would have saved money and had the product by now? In 2021, homes across the United State went up 19.1% on average. There were some markets where the prices soared 30 to 40%. Fortunately, last year the mortgage rates did remain relatively stable but that isn't the situation this year, in 2022. At the end of 2021, economists from Fannie Mae and Freddie Mac, felt like prices would go up around 7% for 2022. The Mortgage Bankers Association and the Home Price Expectation Survey