RE: Raise minimum wage, increase inflation, raise my wages as a result, and I pay off the house that much quicker.
Hopefully, your interest rate is FIXED. For those planning to start a mortgage, this will cause mortgage rates to INCREASE.
“Hopefully, your interest rate is FIXED. “
Anyone with an adjustable rate mortgage right now is playing with fire. When rates are this low you get a fixed rate mortgage as they can only go up from here. I have a 3.75%. If they drop to 3.25% or lower I’ll refi. No way I would risk getting a 2.5% ARM just to watch it get jacked to some 1970’s rate that exceeded 21% in some cases.