Agents on @brokeagentmedia had mixed reactions to a Reel on the “Worst advice you’ve seen on the internet.”
Comments on the post ranged from enthusiastic agreement to passionate disagreement, with a few head-scratchers thrown in for…variety.
We’re sharing some of them here.
Most commenters agreed with Byron’s take on this advice.
On its face, it suggests committing to a higher rate in the short term, hoping mortgage rates will go down and make a long-term commitment to the property more sustainable.
It’s a misleading statement that begs for clarification. And when you’re communicating with clients, clear, unambiguous language is always the way to go.
Hearing this advice from lenders
Some commenters are hearing this advice from mortgage lenders. Some context for those conversations would be helpful, but we’re hoping the intent is to encourage borrowers who can afford current rates to invest in a home and start building equity.
“Better than renting” comments
A few made the point that, while interest rates may be more than double what they were at the beginning of the year, homeownership still beats renting.
“But you misunderstand” comments
Quite a few responded with their own interpretation of the phrase, “Marry the house, date the rate.” To some, it means showing clients how, even with interest rates on the rise, homeownership is better than renting and building zero equity.
To others, it means, “Go ahead and buy—as long as you can afford the current rate.”
What are your thoughts on “Marry the house, date the rate?” Head over to Instagram and add a comment of your own—or reply to someone else’s.