can easily put you in a position where your dream home turns into more of a pipe dream if you are waiting for the perfect time to buy. Some homebuyers may be tempted to purchase a more expensive home thanks to mortgage rates sinking to all-time lows this year.
If you wanted to keep the same $2,000 targeted mortgage payment today, you could buy a home valued at $483,000, assuming you could secure the current best interest rates of 2.86%.Although increased spending is a benefit to the American economy and the real estate industry, I've been telling my clients to keep that savings in their pockets rather than use that money to buy a bigger, more expensive home.
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