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this post was submitted on 29 Sep 2023
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Meh I don't care. We bought a couple years ago when rates were super lower but prices were high. Our mortgage is less than rent would be and we're not going anywhere for a long time. I think of the house as a place to live, not an investment really. Like a car. It serves a purpose and I'll use it until I can't anymore.
Yup the people that are mostly disadvantaged by (and cause) a housing crash are the people that treat houses like stocks.
Same boat. Got a 10 year lock in at ~2% interest and now the rates are more then double that.
Going to do everything we can to keep that rate although we doing extra repayments just in case.
Doing extra payments when you have a 2% loan is just throwing money away. Savings accounts rates are minimum 4% right now - put your extra payments there if you’re super risk adverse. If you’re less risk adverse, buy mutual funds that match the market.
Saving accounts pay out less then 2% here and we are taxed on the amout that is held in our saving account so it is more beneficial to downplay the mortgage.
Even with the extra payments we are still going to do ETF