In 1982 the mortgage on my 1st home was 16.5%. When rates dropped I refinanced (twice). As rates dropped, equity went up. Fast. Home prices will adjust to int. rates based on affordability of monthly payments. New buyers are right to avoid home purchase when rates are increasing.
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In 1982 the mortgage on my 1st home was 16.5%. When rates dropped I refinanced (twice). As rates dropped, equity went up. Fast. Home prices will adjust to int. rates based on affordability of monthly payments. New buyers are right to avoid home purchase when rates are increasing.
End of conversation
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