With rising interest rates in Salem, some real estate investors wonder what's a reasonable mortgage interest rate to use when planning out their next purchases.
This episode was recorded to help real estate investors better understand historical mortgage interest rates and what is reasonable to use when modeling future real estate purchases.
If you're buying a property in the next 30-90 days... just call your lender and get the current mortgage rates. But, what interest rate should you use if you're thinking about buying 10 properties over the next 10 years? How confident are you using that rate? How confident should you be?
James discusses this idea and shares with you a brand-new, super-simple spreadsheet called the Mortgage Interest Rate Confidence Meter™ that uses historic mortgage interest rate data to tell you how confident you should be using whatever interest rate you enter.
Watch the video version of this class:
Resources MentionedIn this episode James mentions the following resources:
- 30-Year Fixed Rate Mortgage Average in the United States from The Federal Reserve
- Download the Mortgage Interest Rate Confidence Meter™ for Microsoft Excel
- The World's Greatest Real Estate Deal Analysis Spreadsheet™