Learn English: Mortgage Rates Are Going Down, But Homes Are Still Expensive (normal)

1 year, 1 month ago

Mortgage Rates Are Going Down, But Homes Are Still Expensive

Mortgage rates, the interest you pay on a home loan, have been dropping recently, which could be good news for people wanting to buy a house.

However, while the cost of borrowing money for a home is decreasing, home prices are still rising in many places.

Even with lower rates, you might still have to pay more upfront for a home than you would have last year.

It's important to carefully compare the costs of buying a home now versus waiting to see what happens to prices and interest rates in the future.

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Source

Original: NerdWallet Blog

Tags

#mortgages #homebuying #interest rates #housing market #financial planning

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