by Dean Harrington
When we see a bull market in stocks we often hear people lamenting they didn’t buy a particular stock when the price of that stock was trading at a much lower price. Yet, oddly, when prices are more affordable we know that consumers often view that stock as less attractive and wait it out, often missing on a great opportunity.
In the housing market, we act similarly – many of us trying to time the bottom of the price and rate market. It’s kind of like trying to catch a basketball at the exact moment it hits the floor. Try that sometime, it’s hard.
Patience is a virtue until it hammers you as a procrastinator. Now IS the time to take advantage of historic low interest rates and trade-in your current mortgage. Refinancing is cool again!
People that take advantage of today’s incredible rates will have cocktail party bragging rights for years to come. None of them will look back at changing interest rates and wonder if their patience was the least of their virtues. It’s time to join the party!