Should I Wait for Interest Rates To Come Down?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 8 January 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Today's question comes from Peter and Michigan.
0:25.0	Hey Dave, I just turned 22 and have a credit score of 730.
0:28.0	Oh God.
0:29.0	I'm looking to buy my first home within the next year, but the interest rate on homes are through the roof,
0:34.2	although I see that they are coming down a little bit.
0:36.6	Should I hold out for lower rates?
0:38.5	Go ahead and lock it in.
0:40.1	Thank you.
0:41.1	Aha, the classic conundrum.
0:43.3	Should I time the real estate interest rate market?
0:47.0	It's kind of like timing the stock market.
0:49.4	The best timing to invest in the stock market
0:51.0	is when you have the money to invest versus trying to figure out if it's going to go down or up.
0:55.0	Exactly.
0:56.0	So I would buy when he's ready to buy.
0:58.0	Marry the house, date the rate.
1:01.0	So buy the house and refinance when rates come down. You're not married to the mortgage, you're married to the house.
1:06.0	So figure out the right house at the right time, right girl at the right time, get married,
1:11.0	and date the rate.
1:13.7	The rate's temporary.
	...

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