Stop Shopping For A House-Start Shopping For A Payment
Today, I want to change one question that nearly every homebuyer asks.
Most buyers begin by saying, “How much does the house cost?”
I think that is the wrong place to start.
The better question is: “What will this house cost me every single month—and can I comfortably afford that payment without sacrificing the rest of my financial life?”
The average 30-year mortgage rate just jumped from 7.03% to 7.28% in one week. That was the largest weekly increase in four years. We also have the 10-year Treasury trading above 5%, which continues to put upward pressure on mortgage rates.
So, if you are…
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