U.S. pending home sales unexpectedly rebound in May

[Tadpole Raisin]

2. Clearly undergoing a transition...

Of course it’s always a good time to buy a home.

Buy because:
Rates are the lowest they’ve ever been
Hurry before rates go up
Etc., etc.,

Eons ago I asked a real estate friend what interest rate environment was the best one to buy a house (with the caveat that you had enough money and would pay down as able). She was perplexed.

I said buy when interest rates are high as ‘normally’ without crazy financing schemes the principle is lower. Sell when interest rates are low as principle rises to make the same monthly nugget.

And if you try to pay down the principle early you will come out way ahead all things being equal.

Problem is there hasn’t been much of a normal market for decades and it is harder to time things plus life has its own agenda.

I always laugh at the NAR spin.