| Each week in this section, Chief Investment Strategist Alexander Green responds to reader questions. It's your direct line to the Chief! Have a question for Alex? Drop him a line at mailbag@oxfordclub.com. Reader: I'm in the market to buy a home, but the volatility surrounding interest rates concerns me. I know we can't predict what the market, Federal Reserve or economy will do, but is it reasonable to assume that rates will begin dropping again in 2024? - M.T. Alex: Rates may or may not drop in 2024. But it's not necessary to wait to buy a home with a lower mortgage rate. It's better to find an owner with a low mortgage rate who is motivated to sell and willing to help with the financing. That means setting up a "contract for deed" where you make payments to the seller, who then continues making payments on the existing mortgage for a specified period of time. Both buyer and seller are fully protected. (See a real estate lawyer for details.) I've personally bought several houses over the years this way myself, especially in the inflationary '80s when mortgage rates were at double digits. |
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