Mortgage Rate vs. Home Price: What Matters More?
If You Have Financial Flexibility, You Can Buy a Home Even with High Interest RatesPurchasing an Affordable Home Should Be Your Priority When purchasing and owning a home, there are two important variables that affect your mortgage expenses: home price and interest rate. Home price is a clear factor that determines how much you'll pay during the loan term, but interest rates also play a crucial role in your total mortgage costs. With both prices and interest rates being high in the current situation, it's natural to hesitate about buying a home. That's why home buyers are always torn between home prices and interest rates. Should you buy when home prices drop, or should you buy when interest rates drop? If mortgage interest rates show no signs of falling for a considerable period, is it better to buy a home when prices drop slightly? Or is it better to wait longer and buy an expensive home at lower interest rates, even…
