Price or Interest Rate…which is more important?
Very often the negotiating emphasis is on price. That makes sense if a buyer was to simply pay cash for a home. However, another important consideration in the discussion is interest rate. Interest rate plays a huge role in the decision making process because very few people actually pay cash for a home. Most simply finance the purchase. So what impacts you most is not really what you pay (on paper) but your monthly payment. It’s the mortgage payment that impacts you every month. It’s what most people build their family budget around.
The conclusion is that while it might feel good to ride out a seller until he succumbs to a lower price; a prospective buyer might actually end up paying MORE on a monthly basis by not capturing a historically low interest rate now.
Posted by: 
Essam Elsafy
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