Inflation has generated a lot of attention lately as the prices of goods and services have risen faster than they normally do.*
Housing can be one way to hedge against inflation, helping reduce the impact it has on your purchasing power.
If they buy, a fixed-rate mortgage means monthly principal and interest payments won’t keep going up like rent will,** regardless of how much inflation rises. If they already own a home, refinancing to a lower rate can reduce monthly payments to help make their money go further.
Not to mention, the value of their home will likely increase over time while their monthly payment stays the same – yet another shield against inflation.
Mortgage rates are expected to rise this year, but you still get a great low rate now.
Source: Matthew Falconer, Originating Branch Manager, CrossCountry Mortgage, LLC
