Hey everyone,
I just saw the latest mortgage rate news and I’m kinda freaking out. Did you guys see that 30-year fixed rates jumped over 7.1% in the first week of 2024? That’s insane!
I’ve been saving up for a house, but now I’m not sure if it’s the right time to buy. Are any of you in the same boat? What do you think about these rates? Do you think they’ll come down soon or should I just bite the bullet and go for it?
Also, has anyone here recently locked in a rate? I’d love to hear about your experience. This whole situation is making me nervous about my home-buying plans. Any advice would be really appreciated!
yeah, those rates are brutal rn. i locked in at 6.8% last month and thought THAT was high. kinda wish i’d waited a bit longer tbh. but who knows where theyll go from here? if ur rly set on buying, maybe look into adjustable rates? might give u a lil breathing room til fixed rates chill out
I’ve been through this rodeo before. High rates are tough, but they’re not the whole story. Consider your long-term goals. If you find a house you love and can afford the payments, it might still be worth it. Remember, you can always refinance later if rates drop. Don’t let fear paralyze you, but don’t rush either. Take your time, run the numbers, and make sure you’re comfortable with your decision. Rates are just one piece of the puzzle in homeownership.
Wow, those rates are definitely eye-opening! Have you considered exploring first-time homebuyer programs? They might offer some relief. Also, what’s your timeline like? Sometimes waiting can pay off, but it’s hard to predict. Are you open to looking at smaller homes or different neighborhoods to offset the higher rates?