Rising Interest rate, Should I still buy or keep saving?

[Ricardo Cristobal]

Good day everyone,

So I'm primed to buy my next deal, I already have a pre-qualification letter in hand. The thing that concerns me is the rising interest rates. I've heard both sides and that some people say that we are still historically low when it comes to interest rates. I Understand that but the home prices continue to go up along with the rising interest rates. Can anyone elaborate to see if it prudent to just stay put and save or buy my next deal. All input would be appreciated!!!

[Ron Fletcher]

I bought my first home 30 years ago and paid 9.5% so yes, today’s rates are still great. Remember that cash flow is what counts. To use an extreme example, if the rates jumped to 20% like they did in early 80’s but the numbers still worked, would you buy? Of course. And you can always refinance if and when rates fall again. Don’t try to time the market just look for deals that work.