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Homebuyers Should Stop Obsessing Over Mortgage Rates
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2013 Feb 14, 2:41am 1,178 views 2 comments
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1
FunTime
2013 Feb 14, 9:45am
To some extent, to believe you'll make money buying a house is to believe things do come for free. Someone's going to loan me $100k or $500k so I can make money? How generous!
2
Mobi
2013 Feb 14, 11:18am
To some extent, to believe you'll make money buying a house is to believe things do come for free. Someone's going to loan me $100k or $500k so I can make money? How generous!
Fed creates cheap money from thin air and that's why everybody is happy. Well, not exactly, they do need collaterals and MBS is the perfect thing. The only problem is: when the payback time comes (i.e., when Fed has to stop printing for some reason,) everybody will be Unhappy.
When most people start shopping for a mortgage, the first thing they do is look for the lowest interest rate they can find. And that can get them into trouble. A low interest rate can save you money, obviously. But it's only part of the story.
http://www.businessinsider.com/mortgage-rates-arent-all-that-matter-2013-2
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