Quick correction on slide 2: re-ran it and a $400K loan at 7.49% vs 5.98% is $401 MORE a month, not $276. My math was off.
Point still stands though. Which door are you walking through?
Rates just hit 7.49%. Highest since November 2023.
In February the rate was 5.98%. A $400K loan now costs about $276 MORE every month.
Two doors open.
DOOR 1: Wait for rates to drop and compete with everybody else.
DOOR 2: Buy now, lock the asset, refinance when the number drops.
Which door are you walking through and why? Comment below.
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