Originally Posted by Rick and Mindy
I agree with Dave. When money is cheap, take advantage of it. In a few years these loans may seem like pennies on the dollar. When inflation hits and the interest rates go back to 9 and 10% you'll love the idea of 2-4% mortgages and the cash you saved can then be placed in Certificates of Deposit that will pay higher rates than you are paying. I purchased many homes during the 70s through the 90s when the interest rates were typically 9 and 10%except in the mid 80s when they hovered around 18%! I hope 9 and 10% or higher never returns but historically, that's not the case.
I 100% agree. I always find it funny how some people insist on paying cash for something when loan rates are so low right now.
2014 Redwood 38BR, Fulltiming
2013 Ford F-350 CCSB 6.7L 4x4 SRW, B&W Companion Hitch, Air Bags