A $2000 mortgage payment at 4% interest is not equivalent to a $2000 payment at 2%. That money that would have gone towards your equity, is being spent in inte

A $2000 mortgage payment at 4% interest is not equivalent to a $2000 payment at 2%. That money that would have gone towards your equity, is being spent in interest. This is why people making 60k/yr. buy $65,000 trucks. Interest rates drop and they only look at the monthly payment amount. You don’t always get the full tax deduction on a first home either. In high tax states the 10k deduction limit kicks in when your paying high state taxes + mortgage interest.