Many buyers are concerned about interest rates right now. That’s because they’ve been rising over the past year or so and are high compared to the historic lows we saw in 2020 and 2021.
We have seen a downward trend recently.
But historically speaking, today’s interest rates fit right in.
In fact, they’re the same that we saw in 2000. People who bought a home in 2000 at these interest rates saw their homes increase around 160% in value.
That’s over DOUBLE the amount that they paid for their homes in 2000. Talk about an equity boost!
When we’re looking at appreciation over time, these kinds of mortgage rates are both normal and totally worth it as an investment vehicle to build wealth with.
Remember, you can always refinance down the line when interest rates drop–you’re not married to a rate unless you want to be!
