Rent my house? Buy a house now?

Paul Dirac

Joined: Jun 13, 2021

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6 years to pay it off at 3.50% interest rate. Should I rent it out and rent my new place hoping interest levels will drop before buying a new place?

htxag09

Joined: Sep 28, 2010

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7:21a, 9/10/22

AG

Not sure I follow….why are you renting both? Why not just stay in your house?

If you need to move and have the capital, why not buy now and refinance if rates drop? If rates do drop, I doubt prices will remain flat….

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YouBet

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6:41p, 9/11/22

AG

We are most likely getting a .75 rate hike on 9/20 so it's not going down anytime soon. Most predictions saying rates won't decline until 2024 at the earliest.

Europe did a .75 hike on Thursday.

techno-ag

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In reply to Paul Dirac • 7:39p, 9/12/22

AG

Paul Dirac said:
6 years to pay it off at 3.50% interest rate. Should I rent it out and rent my new place hoping interest levels will drop before buying a new place?

Just pay it off. Invest the mortgage money elsewhere.