End of an Era?

Just as this week’s TGIF 2 Minutes goes to press, the news of the passing of Queen Elizabeth II, the longest reigning monarch in British history, is hitting the airwaves. God bless the royal family in their mourning of an amazing woman!

The “end of an era” closer to home is the end of 3% 30-year mortgage rates. Does this mean it is time to put off a home purchase? The simple answer is NO. The longer answer is, NO, IF. The “if” stands for:

Today’s 5%+ mortgage rates are more normal and reasonable in the longer-term picture than the media is making them out to be.

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