Why Mortgage Rates Shouldn’t Stop You From Buying A Home

Effective Plan to Buy a Home Even with High Mortgage During the early days of the pandemic, mortgage rates hit record lows. But now, for the past few months, there has been a considerable increase in mortgage rates. The July rates are 4% higher than the summer of 2021. Therefore, people think now is not a great time to buy a house because mortgage loans cost more. But, the leading real estate agent, Rich Barnes, has a different and effective plan to purchase a home. Regardless of the higher mortgage rate, home buying is a good investment for most people. It is because the value of homes increases over time. Hence, homeowners end up with better networks than renters as they acquire the asset while repaying the mortgage. Moreover, the mortgage rates are tax deductible for those who itemize, and rates are far lower than most debts. In addition, if you choose a fixed-rate loan, your rate and payment are locked. In this way, your mortgage payment will become less inexpensive ov