My wife and I put an offer on on a house when all this corona virus was in its infancy and we are set to close on april 2nd. Is now a particularly bad time to get into a mortgage? We would lose $3500 by backing out but the house we offered on is $320k in the CLT area. With the US following Italy's progression and an impending recession it kind of seems like a bad idea now. We would just go back to renting if the contract falls through. I have a rate lock in at 3.125% and we plan on staying in the house for at least a decade but we dont want a housing market crash and see houses we like that are better for even less money than we are paying. Our jobs are fairly secure but nothing is for sure.
Submitted March 20, 2020 at 07:57PM by fissionlol https://ift.tt/3bkPr3P
