Rent or Buy? Mortgage Rates Climb to 5.82%

Rent or Buy? Mortgage Rates Climb to 5.82%

Maxwell Ryan
Dec 7, 2004

We say tomato, you say tomato.

Mortgage rates rebounded this week on a report of stronger-than-expected economic growth.

While we maintain that this is the time to rent, unless you are looking to buy for the long term (in which case, it is always the time to buy), we love that we have inspired opposing opinions (16 room Victorian???):

I disagree with [your post] and say buy, buy, buy. After years of renting in NYC, it was buying the right property at the right time that put my husband and myself into our current fortuitous situation. From that buy we were able to cash in & upgrade and pay cash for our huge 16-room Victorian and buy a couple of rental properties as well.

Anyhow, just my two cents...

Keep up the good work - Pam


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