Things net out at the end for new home buyers. The mortgage rate may be 3%, but the cost of your home increases at a much higher number causing the value you h

Things net out at the end for new home buyers. The mortgage rate may be 3%, but the cost of your home increases at a much higher number causing the value you have in mortgage rate to be offset by the higher up front cost of a home. People 'buy' a mortgage payment, not a home. Its why home appreciation 'slows' when rates are high, and we have had record increases in home values with mortgage rates super low.