Mortgage Rates & Condo Changes: What Buyers Need to Know

Should you wait for mortgage rates to fall, or is buying now still worth considering? In this episode of Making Money with Laura Sanders, Laura talks with Chris Mudlo of Gold Star Mortgage about mortgage rates, home affordability, buying strategies, and major upcoming changes affecting condo buyers. They explain why buyers should focus on affordability and the monthly payment, rather than simply waiting for rates to come down. The conversation also covers how homeownership can build equity and contribute to long-term wealth. You'll also learn about: Where mortgage rates are currently trending and where they could go Why waiting for lower rates could come with higher home prices How mortgage rate buydowns can make payments more affordable How a 2-1 buydown works The difference between temporary and permanent rate buydowns Important considerations when buying a condo New reserve requirements affecting conventional condo financing How Fannie Mae and Freddie Mac changes could impact condo buyers Why first-time buyers with smaller down payments may be affected the most Why buyers should review condo budgets, reserves, and meeting minutes before purchasing The discussion emphasizes one important theme: understanding the full cost of homeownership and knowing what you're actually buying into. Are you waiting for mortgage rates to come down before buying, or would you consider buying now if the payment was affordable? Let us know in the comments! 👍 Like this video if you found it helpful, subscribe to Making Money with Laura Sanders, and turn on notifications so you don't miss future real estate and mortgage discussions.