Buy Now or Buy Later?

We all should realize that we're expected to have the interest rates go up several times this year. I can barely keep track of where they are on a weekly basis. My poor preferred lenders are hammered with an hour by hour update of rate changes!

Reason for this post? Buy today, don't wait til next year. See this little chart from California Association of Realtors, it's black & white! Well, it's in color, yes....pretty lilac's, yellow, and blue! Crystal Clear explanation though.

I tell my buyers all the time, the first two years will be tight. Then as their earnings go up, their mortgage payment stays the same....finances start to feel more comfortable.

On the above chart.....you'll have to make more money just to afford the same house next year. You'll definitely be behind the 8 ball as they say.

I know there's not a lot of inventory. I know prices seem high. But, you wait...it's just going to cost you more.

My two cents.