Renting, Mortgage Rates & 3 Year Averages

So have you been saying to yourself for years "I am going to wait until the interest rates drop.". Well about 5 years later - here you are still renting. Meanwhile your rent goes up to cover your landlord's mortgage. OR have you been saying "I'd love to get a rental property, but it may not be worth it." Well look at these stats - get someone to cover the mortgage for you & you could end up with a home paid off entirely by renters! For the last 3 years the average mortgage rate is in the mid 6's. Meanwhile rent went up soo much - it was like you had your interest rate tripled! The average rent went up $800 in 3 years. That is $266.67 a year raise. While mortgage rates have stayed basically the same. If you want to look into obtaining a rental property OR buying a home & not renting - let's talk and get a gameplan together. Your gameplan could be now or in the future. But it is never too soon to have the conversation. And if you are military - let's talk about how the military could basically give you a free home! #LetsTalk #MortgageRates #StayInformed