usually the break even is about 7+ years out if nothing changes, not

Nov 18, 2024
12:43:11pm

BYUFBDAD All-American

coincidentally, the average mortgage life is 7-8 years before the owner moves or refinances.

If it were me, I'd invest the buydown money elsewhere.

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BYUFBDAD

Bio page: BYUFBDAD
Joined: Dec 11, 2010
Last login: Nov 18, 2024
Total posts: 19,637 (1,270 FO)

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Messages

Author

Time

My son is buying his first home. Is it worth buying down points on interest

WY_CougFan

12:26pm

Just as relevant to ask how long he'll really be in that first home.

dwhitebud

12:27pm

<< Deleted >>

Mike Honcho

12:27pm

Rates won't be going down.

Wife_Apologist

12:28pm

Daughter bought down after told it would help even after a year if come down & refi.

Soupie

12:28pm

Where? What state? If it is a new home builders are

cougar95

12:32pm

Rochester MN. Working for Mayo Clinic and they tell him the housing market

WY_CougFan

3:08pm

usually the break even is about 7+ years out if nothing changes, not

BYUFBDAD

12:43pm

Expect the fed to continue to lower rates over the next several years

Jericho

1:07pm

Why would Fed continue to lower rates? Bad economy? Deflation?

Wife_Apologist

1:47pm

Several reasons

Jericho

2:00pm

Good points. What else can they do to keep inflation under

cougar95

2:08pm

Yeah the debt is an albatross... that might do it... oof

Wife_Apologist

2:09pm

Yep, at some point $36+T is gonna kill us. DOGE is gonna have to

cougar95

2:13pm

If they cut too much of that (which I support), they may hinder the economy

Jericho

2:15pm

About 3 million federal jobs; average about $100k but let's use $200k. Only $600

Wife_Apologist

2:25pm

Simple, just go back to 2019 spending levels. That's $2T+ less than now.

cougar95

3:27pm

May want to watch this

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