First-time home buying

If you’re a first-time home buyer or know someone who is, this is a great video about the buying process and various purchase costs. It’s also a pitch for the YNAB (You Need A Budget) software. An excellent system our daughter recommended. Given inflation and rising rates, it’s more important than ever to know your costs. YNAB is $8.25/month if paid annually in advance. It works for your next home too!

P.S. When the Kirvens bought their home, rates were almost 9%. We were thrilled. They’d been just under 18% a few years before and then went to 12% a couple of years later. The average rate over the last 30 years is 7.76%. Fear not. You can probably afford it.

30-year rate mortgage rates

Rates in the past year