What do FReepers think about what will happen to the real estate market? I’m trying to decide if a refi of my mortgage to pull some cash out is a good idea at this time. I want some cash reserves available so I can retire this year.
“What do FReepers think about what will happen to the real estate market?”
I think sales will still be decent.
With higher rates instead of the 400k house buyers might have to downgrade to the 375k house without the home theatre.
3.5-4 million illegal and legal immigrants are coming in each year and record foreign home ownership continues to climb as the US is still the safest safe haven for home and cash the world over.
“I want some cash reserves available so I can retire this year.”
Is that really a good financial idea? Pulling money out of your homes equity to help fund your retirement?
Personally I would continue to work or work p/t before I have another home payment.
Mortgage rates will continue to increase, so the real estate market will be under pressure. If one intends to refi one should do it asap.
You don’t care about the real estate market when refinancing your mortgage. You care about mortgage interest rates. Any increase in fed rates will raise the mortgage rate that you are worried about. My wife managed to get a 2% fixed a few months ago and I suspect it will be very difficult to do that in the future. Think Carter Years.