When will be the best time to buy a home?

So, i was right more less? Dont steal that quote lol

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The best time to buy is when prices are low. Generally everyone will hate real estate then and demand will be low

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I stole a common saying? Lol what.

Especially hilarious considering i was responding to another common saying lol. That’s the point but whatever.

They’re fixed rates though not variable… but the mortgage term is only 5 years typically. Although recently mortgage rates have been low for so long something like 1/3rd of mortgages were actually variable rate but that’s not usual it’s usually quite a bit less than that.

So its a a fixed rate on a 30 year but that rate is only locked in for 5 years? Not gonna lie, im confused a bit

Wait, they only mortgage a home for 5 years??

Mortgage term is only for 5 years but it’s amortized over 25 years.

So you need a new mortgage every 5 years but you’re not paid in full at the end of it, so you need to sign 5 mortgages to finish paying off your house lol. I know it is retarded but whatever.