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Clifton, NJ real estate attorney Peter G. Aziz explains whether or not you should be worried about rising interest rates. He points out that, in general, the best time to buy a home was yesterday. He often tells clients that while you “marry the home,” you only “date the interest rate,” since it is usually possible to refinance later if rates decline. For the most part, he advises that as long as a buyer can comfortably afford the monthly payment, they should not be overly concerned about current interest rates. Many people get caught up waiting for rates to drop, but he notes that when interest rates decrease, property values often rise, so buyers need to balance timing with affordability and prioritize what matters most to them.
