Housing buyers 2 months ago were incredibly unlucky.
If you bought a $500,000 home with 20% down, here's what your mortgage payment would be:
1. October 28th: $2,960/month
2. December 28th: $2,608/month
In other words, waiting 2 months to buy a new home would have reduced your monthly payment by ~12%.
Since October 28th, the average rate on a 30 year mortgage has fallen from 8.1% to 6.8%.
This marks the fastest 2-month drop in mortgage rates since the 2008 financial crisis.
Interest rates are tr...