Your HŌM Update
If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country.
While it’s true home prices and mortgage rates are rising, so are monthly rents. As a prospective buyer, rising rates and prices shouldn’t be enough to keep you on the sideline, though. When you rent, that rising cost benefits your landlord’s investment strategy, but it doesn’t deliver any sort of return for you. In contrast, when you buy a home, your monthly mortgage payment serves as a form of forced savings. Over time, as you pay down your loan and as home values rise, you’re building equity. Not... #firsttimehomebuyer #opportunity #housingmarket Welcome HŌM