Mortgage Rates Just Hit 7%. Here's Why I'd Buy Anyway.

Mortgage rates just climbed above 7%, and buyers disappeared almost overnight. But if you spent the last few years losing bidding wars, this is the housing market you said you were waiting for. In this video, I'll show you why the rate spike that scared everyone else off may be the best opening first-time buyers have had in years. You'll hear what waiting for rates to come down actually cost a real-life buyer, why a market like Pittsburgh behaves differently from the boomtowns that are correcting right now, and the three things rates can do from here (and why buying now holds up in every one of them). I've been in the mortgage business since 1999. I bought my first house that year, when rates averaged 7.44%, and it became the foundation of everything I have today. Back then, the rate was just the rate; nobody had ever heard of a 3% mortgage. Today's buyers are measuring 7% against the most extraordinary stretch in mortgage history, and it's keeping a lot of good people on the sidelines. If you're a real estate agent with buyers who've gone quiet, feel free to share this with them. CHAPTERS 0:00 Buyers didn't disappear [0:00] The rate was just the rate [0:00] The market you were waiting for [0:00] What waiting cost my niece [0:00] A roof, not a lottery ticket [0:00] Why Pittsburgh is different [0:00] Three things rates can do [0:00] The best time to plant a tree Download my free e-book, You Can Do This! The No-BS Guide to Financing Your First Home: https://stanbrusoski.com/book Want to find out whether buying now makes sense for your situation? Book time on my calendar: https://stanbrusoski.com/schedule Subscribe for straight talk about buying your first home from someone who's been doing this since 1999. Stan Brusoski │ NMLS# 1792848 Rate data: Freddie Mac Primary Mortgage Market Survey. Figures in the examples are illustrative. This content is for educational purposes only and does not constitute financial or legal advice. Transparency Note: This video was created with the authorized digital avatar of Stan Brusoski. Commentary, financial analysis, and opinions represent Stan Brusoski’s original work. COMPLIANCE & LEGAL DISCLOSURE: The content provided in this video is strictly for general educational and informational purposes and represents the personal opinions and macroeconomic analysis of Stan Brusoski. The views expressed herein do not reflect those of any employer, bank, mortgage lender, or affiliated institution. Nothing in this broadcast constitutes financial advice, investment counsel, or a formal offer or commitment to extend credit or lend. Stan Brusoski | NMLS #1792848. Equal Housing Opportunity. #firsttimehomebuyer #housingmarket #mortgage #mortgagerates #pittsburghrealestate