Real Answers Pt 2: Mortgage Myths, Interest Rates & Buying Timing - 353

Most buyers obsess over interest rates—but this episode reveals why waiting for the “perfect rate” might cost you far more than you think. In part two of the “Top 20 Most Frequently Asked Questions” series, this episode dives into one of the biggest fears first-time buyers face: today’s interest rates. David Sidoni tackles the myth that 3–4% mortgage rates will return and explains why waiting could backfire. You’ll hear why “timing the market” is often less effective than just getting in as soon as you’re ready. David uses real historical data, stock market comparisons, and a strategic mindset shift to guide buyers in evaluating if now is the right time. Plus, hear how creative mortgage strategies can make a 7% interest rate not only manageable—but still a smart financial move.

Quote

“Life happens for us when it happens. You’re here thinking about buying a home at this point of the grand long calendar. So you got to do your best with what’s happening right now.” - David Sidoni

Highlights

• Why 3% interest rates are gone for good—and why that matters
• The truth about average mortgage rates since 1971
• What Apple stock teaches us about timing the market
• How to make 7% work for you with a custom rent replacement plan
• Why buying sooner, not perfectly, could double your investment
• The hidden danger of waiting for “the perfect time” to buy

Referenced Episodes

• Ep. 262: Breaking Down the Housing Affordability Crisis
• Homebuying 101: Step 9 – Stop Fearing Your Future Mortgage
• Homebuying 101: Step 10 – Understanding Today’s Market

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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with two decades of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.