Home buyer, will you date the rate and marry the house?
Date the Rate and Marry the House is a smart home buying strategy
It means that you're buying now and committing to a relationship with the house you love now... and dumping the rate later when rates go down.
You can buy now while no one is looking and prices are low... knowing you'll be able to refinance when rates go down.
1. There is no guarantee that rates will go up or down at any specific date.
2. To refinance into a lower rate, you will have to qualify for the refinance loan at the time of the refinance. Not everyone who applies will qualify or get approved.
3. There is no guarantee that home prices will be driven up next year. But history has shown that home prices always go up over time - so it's safe to say the price of the home you buy now is statistically guaranteed to go up in value over a few short years or less.
4. It looks likely that rates will go down in mid to late 2023 or sometime in 2024. Whenever they do, more buyers will jump into the pool. This always drives home prices up. The timing we've posted is speculative based on our research.
We posted a short description of The Home Buyer's Kit here. While supplies last.