90% of Homeowners have interest rates below 5.0% and 70% of those Homeowners have rates below 4.0%. – CNBC News

Interest Rates have to move lower before we can begin to sway these Homeowners in bulk. Lets look at a $500k purchase 20% down just Principle and Interest:

3.5% rate $1,796 6.5% rate $2,528

Our gut tells us it must be twice the payment but it’s actually only about 30% higher. What this tells us is once we are closer to 5.0% interest rate the payment shock will be far lower at only15% higher payment.

Interesting group below. These are digital nomads that can work anywhere, not just in the United States but the World. COVID has changed our working landscape far more than we may realize.

Have a fantastic Thursday.