Many consumers think that interest rates are at an all-time high and that buying a house is so much more expensive now than it was this summer. That would be incorrect. As of the first of December 2022 interest rates are lower now than in June and just slightly more than in April. But even if rates go up or are higher than this spring and summer, buying a house is vastly cheaper in most cases because of the end of the appraisal gap and multiple offers.
James Fleshman of Foundation Mortgage joins me on Dishin' Dirt to discuss the math of payments, interest rates, down-payments and appraisal gap and how it makes buying a house now so much better than this previous spring and summer.
LINKS FOR WEBINAR WITH KRISTA MASHORE ****NOW December 6***
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* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.