Rent or Buy? Mortagage Rates Drop to 5.72%

Rent or Buy? Mortagage Rates Drop to 5.72%

Maxwell Ryan
Dec 14, 2004

Rent. In a sudden reversal of the recent trend, "companies aren't creating jobs as fast as expected, and oil prices have dropped. As a result, long-term mortgage rates fell sharply in the last week."

Really, the decision to rent or buy has so much to do with personal circumstance and personal timing. We feel that as prices are not sustainable at the current rates and are already showing signs of dropping, renting is advisable until better prices come on the market.

However, for the person who wants to buy for the long run and can afford today's prices, there is no point in waiting. Buy, get the nice low interest rate and move onto other subjects for the next 20 years. MGR

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