Will You Make This Huge Mistake When Buying a Home?

Buying a house is rarely a simple process. As a result, you shouldn't complicate it further by trying to time the mortgage market.

In the first case, it's impossible to predict what mortgage rates will do over the short term. These are influenced by any number of different things, including the ongoing conflict in Ukraine, the health of the U.S. economy, and trading volatility in the mortgage-backed securities market.

And in the second case, as Motley Fool contributor John Maxfield discusses in the following video, there's every reason to believe that the long-term trend over the foreseeable future is of steadily increasing mortgage rates. As a result, if you're thinking about buying a home but are waiting for borrowing costs to head lower, the smartest thing to do may be to pull the trigger sooner rather than later.

Owning a home isn't the only tax "loophole" you can use
Recent tax increases have affected nearly every American homeowner and taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "The IRS Is Daring You to Make This Investment Now!," you'll learn about the simple strategy to take advantage of a little-known IRS rule. Don't miss out on advice that could help you cut taxes for decades to come. Click here to learn more.

The article Will You Make This Huge Mistake When Buying a Home? originally appeared on Fool.com.

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