This is a good time to buy a home if you can pay cash. Higher interest rates have slowed home sales and have made housing even more unaffordable. While it is true that rates were higher in the 1980s it is also true that houses were less expensive as compared with household income.
Current rates are more than 7%. If I were a home buyer I would wait until the president reduces interest rates before buying a home. Sure loans can be refinanced but that is an added expense. A change in circumstances, such as a job loss, can mean a borrower won’t qualify for a new home loan.
