{"id":689,"date":"2023-08-15T00:04:52","date_gmt":"2023-08-15T00:04:52","guid":{"rendered":"https:\/\/stacygrove.com\/blog\/?p=689"},"modified":"2023-08-11T00:06:55","modified_gmt":"2023-08-11T00:06:55","slug":"why-buy-now","status":"publish","type":"post","link":"https:\/\/stacygrove.com\/blog\/why-buy-now\/","title":{"rendered":"Why Buy Now?"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n <iframe loading=\"lazy\" title=\"Why Buy Now?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/fpinjc-A9tQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Everyone is talking about it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s higher than EVER! (Not really.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s STILL going up! (Yes!)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NO ONE is selling because of it. (Nope.)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s our friend, the interest rate.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Walk with me down memory lane\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 1973 (ahem, before I was born), interest rates were about 8%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 1983 (around my first birthday!), interest rates were 13.46%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 1993 (when The Food Network first premiered on TV), interest rates were back to around 8%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2003 (the year Michael Jordan retired), interest rates were 5.85%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2013 (the year \u201cselfie\u201d was added to the dictionary), interest rates were 3.34%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today, we\u2019re sitting around 6.5 to 6.75%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s the good news. There are loan programs for EVERYONE, including those with medical debt, first-time home buyers, non-occupants, move-up buyers, doctors, retirees, and more!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some banks offer \u201cbuy-down\u201d programs where you can buy down your rate for the first year or two of the mortgage to give yourself some breathing room and flexibility in your monthly household budget. As we always say, \u201cDate the rate, marry the house!\u201d The hope is that rates will trend down enough that you can refinance to a permanent lower rate. You might refinance if you can lower your monthly payment, reduce your loan term, or get rid of mortgage insurance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, what does it take to buy now?<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li>Patience. This is not a fast process!<\/li>\n\n\n\n<li>Transparency. You\u2019ll need to be prepared to divulge all of your financials to your lender of choice.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Considering buying now? I\u2019d love to talk through the process with you!!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everyone is talking about it. It\u2019s higher than EVER! (Not really.) It\u2019s STILL going up! (Yes!) NO ONE is selling because of it. (Nope.) It\u2019s our friend, the interest rate. Walk with me down memory lane\u2026 In 1973 (ahem, before I was born), interest rates were about 8%. In 1983 (around my first birthday!), interest [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-689","post","type-post","status-publish","format-standard","has-post-thumbnail","category-homebuyer","entry"],"jetpack_featured_media_url":"https:\/\/stacygrove.com\/blog\/wp-content\/uploads\/2023\/08\/Why-buy-now.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/comments?post=689"}],"version-history":[{"count":1,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/689\/revisions"}],"predecessor-version":[{"id":691,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/posts\/689\/revisions\/691"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/media\/690"}],"wp:attachment":[{"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/media?parent=689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/categories?post=689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stacygrove.com\/blog\/wp-json\/wp\/v2\/tags?post=689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}