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Yes, well, the hiccup in your plan is someone voluntarily going from a 2.5% mortgage to a 4% mortgage. The incentive you would have to offer would erase most o
by antisthenes 3y ago
Yes, well, the hiccup in your plan is someone voluntarily going from a 2.5% mortgage to a 4% mortgage.
The incentive you would have to offer would erase most of that $100,000 difference you pulled out of a hat.
- bryanlarsen 3y agoThe incentive is the ability to move to a city with jobs without having to take on a 7% mortgage.
- afavour 3y agoI’m not sure it’s quite that simple. I got a mortgage at 3% some years ago for an apartment. Since then we’ve had two kids and paid off a chunk of the mortgage with our monthly payments. At this stage in my life I’d absolutely be looking to convert that into buying a larger home and would be happy to pay a higher rate for it to happen. But not literally double, which is where rates are today.