Kevin O'Leary: Don't make this home-buying mistake, even when mortgage rates are low via CNBCMakeIt
While mortgage rates have been low as of late, on Wednesday, they inched higher. But don't let falling or rising interest rates influence your decision on whether or not to buy a home, says finance guru and star of ABC's"Shark Tank" Kevin O'Leary.
"Don't get lulled into an effective 'gee, the rates are low, that means I should go into debt,'" he advises."It doesn't matter what interest rates are — debt is debt and you have to pay it back." "Ask yourself this question before you even consider [buying a home]: 'Do I actually want to have a mortgage? Do I want to owe hundreds of thousands of dollars to somebody?'" O'Leary adivses.
If you decide it is time to take out a mortgage and buy a place, paying off your mortgage in a timely manner is then critical, especially for younger people, O'Leary says. That's because the longer you're paying off mortgage debt, the less money you can invest.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Kevin O'Leary: Here's when you should take on a mortgageKevin O'Leary explains the risks of taking out a mortgage and what you need to do first before you think about one.
Consulte Mais informação »
Jets erupt for six goals to beat BluesSecond-period goals four minutes apart by Kevin Hayes, Patrik Laine and Kyle Con...
Consulte Mais informação »
Kevin O'Leary says these 2 companies have been his biggest 'Shark Tank' winners.kevinolearytv says these 2 companies have been his biggest ‘Shark Tank’ winners: via CNBCMakeIt
Consulte Mais informação »
Wendy Williams' Husband Has Broken His Silence, Following Wendy Filing For DivorceWendy Williams' Husband Kevin Hunter Has Broken His Silence, Following Wendy Filing For Divorce
Consulte Mais informação »
Chevron CEO teased the $33 billion Anadarko deal with a Kevin Durant analogy a month agoIn March, Michael Wirth compared Chevron's Permian Basin strategy to the Golden State Warriors' pick-ups after winning the NBA championship.
Consulte Mais informação »
Kevin O'Leary on college admissions scandal: 'I'll tell you who you really screwed: Your kid'Kevin O'Leary on college admissions scandal: 'I'll tell you who you really screwed: Your kid' via CNBCMakeIt
Consulte Mais informação »
Wendy Williams files for divorce from husband Kevin Hunter,The talk show host cited 'irreconcilable differences' for the breakdown of their marriage.
Consulte Mais informação »
Harvick captures pole for Toyota Owners 400 at RichmondRICHMOND, Va. - Where the short tracks are concerned, Kevin Harvick and his No. ...
Consulte Mais informação »
Kevin Durant, Patrick Beverley ejected after late confrontation in Warriors' Game 1 winKevin Durant's night ended early as he was ejected from the Warriors' win following a confrontation with Clippers guard Patrick Beverley.
Consulte Mais informação »